CFPB Publishes FAQs on Small-Dollar Loan Rule

Posted: Aug 12 2020

The CFPB has issued answers to several frequently asked questions related to its small-dollar loan rule. The newly added FAQs address circumstances when non-covered loans may become covered by the rule, exclusions for real estate-secured and purchase money loans, permitted payment transfers and consumer notice requirements, among other clarifications.

To read more, visit: https://files.consumerfinance.gov/f/documents/cfpb_payday-lending-rule_frequently-asked-questions.pdf