Customer Financial Services Review

Customer Financial Services Review

On June 2, 2016, the CFPB proposed ability-to-repay that is new payment processing needs for short-term and specific longer-term customer loans. Relying mostly regarding the CFPB’s authority to prohibit unfair or abusive methods, the proposition would generally need that lenders payday that is making car name, and specific high-rate installment loans either originate loans satisfying strict product characteristic limitations set by the guideline or make an ability-to-repay determination centered on verified income as well as other information. Continue reading “Customer Financial Services Review”