Payday, Vehicle Title, and Certain High-Cost Installment Loans

79 organizations filed 908 public comments on Payday, Vehicle Title, and Certain High-Cost Installment Loans, at the Consumer Financial Protection Bureau. The comment window closed 2631d ago.

Abstract

The Bureau of Consumer Financial Protection (Bureau) is proposing to rescind certain provisions of the regulation promulgated by the Bureau in November 2017 governing Payday, Vehicle Title, and Certain High-Cost Installment Loans (2017 Final Rule or Rule). The provisions of the Rule which the Bureau proposes to rescind provide that it is an unfair and abusive practice for a lender to make a covered short term or longer term balloon payment loan, including payday and vehicle title loans, without reasonably determining that consumers have the ability to repay those loans according to their terms; prescribe mandatory underwriting requirements for making the ability to repay determination; exempt certain loans from the mandatory underwriting requirements; and establish related definitions, reporting, and record keeping requirements. This proposal is related to another proposal, published separately in this issue of the Federal Register, seeking comment on whether the Bureau should delay the August 19, 2019 compliance date for these portions of the 2017 Final Rule.

Commenters (79)

• Faith & Credit Roundtable / CRLtrade assoc.

  819 filings · confidence 85%
• Competitive Enterprise Institutetrade assoc.

  3 filings · confidence 85%
• Faith and Credit Roundtabletrade assoc.

  3 filings · confidence 85%
• Bank Policy Institutetrade assoc.

  2 filings · confidence 97%
• Center for Responsible Lending with Coalition of consumer and civil rights organizationstrade assoc.

  2 filings · confidence 85%
• Credit Union National Associationtrade assoc.

  2 filings · confidence 97%
• Economic Progress Institutetrade assoc.

  2 filings · confidence 85%
• Heartland Credit Union Associationtrade assoc.

  2 filings · confidence 85%
• Mercatus Center at George Mason Universityunverified attribution

  2 filings · confidence 70%
• Minnesota Credit Union Networkunverified attribution

  2 filings · confidence 70%
• American Airlines Federal Credit Unionunverified attribution

  1 filing · confidence 70%
• American Bankers Associationtrade assoc.

  1 filing · confidence 97%
• American Consumer Institutetrade assoc.

  1 filing · confidence 85%
• Arizona Financial Choice Associationtrade assoc.

  1 filing · confidence 85%
• Aspen Institute Financial Security Programtrade assoc.

  1 filing · confidence 85%
• Barbara Counciltrade assoc.

  1 filing · confidence 85%
• Bucks County Women’s Advocacy Coalitiontrade assoc.

  1 filing · confidence 85%
• California and Nevada Credit Union Leaguesunverified attribution

  1 filing · confidence 70%
• CASH EXPRESS LLCunverified attribution

  1 filing · confidence 70%
• CashExpress LLCunverified attribution

  1 filing · confidence 70%
• Cato Institutetrade assoc.

  1 filing · confidence 97%
• Cities for Financial Empowerment Coalitiontrade assoc.

  1 filing · confidence 85%
• City Heights Community Development Corporationunverified attribution

  1 filing · confidence 70%
• Coachella Valley Housing Coalitiontrade assoc.

  1 filing · confidence 85%
• Coalition of 6 Nebraska nonprofit organizationstrade assoc.

  1 filing · confidence 85%
• Community Bankers Association of Illinoistrade assoc.

  1 filing · confidence 85%
• Community Economic Development Association of Michigantrade assoc.

  1 filing · confidence 85%
• Conference of State Bank Supervisorstrade assoc.

  1 filing · confidence 85%
• Consumer Advocacy and Protection Society at Berkeley Lawtrade assoc.

  1 filing · confidence 85%
• Consumer Bankers Associationtrade assoc.

  1 filing · confidence 85%
• Cooperative Baptist Fellowshipunverified attribution

  1 filing · confidence 70%
• Cooperative Baptist Fellowship 6.7.2019unverified attribution

  1 filing · confidence 70%
• Credit Union Association of the Dakotastrade assoc.

  1 filing · confidence 85%
• Dennis Corpunverified attribution

  1 filing · confidence 70%
• Ex Parte Submission Ex Parte Submission prepared by Brenda Muniz on behalf of various participants LA Community Roundtable April 30trade assoc.

  1 filing · confidence 85%
• Ex parte submission prepared by Brenda Muniz on behalf of various participants in the Philadelphia Community Roundtabletrade assoc.

  1 filing · confidence 85%
• Faith & Credith Roundtable / CRLtrade assoc.

  1 filing · confidence 85%
• Farmers National Bankunverified attribution

  1 filing · confidence 70%
• Florida Alliance for Consumer Protectiontrade assoc.

  1 filing · confidence 85%
• Florida Council of Churchestrade assoc.

  1 filing · confidence 85%
• Florida State Hispanic Chamber of Commercetrade assoc.

  1 filing · confidence 85%
• FreedomWorks Foundationtrade assoc.

  1 filing · confidence 85%
• Hispanic Bar Association of DCtrade assoc.

  1 filing · confidence 85%
• Hope Credit Unionunverified attribution

  1 filing · confidence 70%
• Hope Enterprise Corporationunverified attribution

  1 filing · confidence 70%
• Housing Assistance Counciltrade assoc.

  1 filing · confidence 85%
• Illinois Credit Union Leaguetrade assoc.

  1 filing · confidence 85%
• Indiana Institute for Working Familiestrade assoc.

  1 filing · confidence 85%
• Institute for Policy Integritytrade assoc.

  1 filing · confidence 85%
• International Bancshares Corporationunverified attribution

  1 filing · confidence 70%
• Lawyers' Committee for Civil Rights Under Lawtrade assoc.

  1 filing · confidence 85%
• League of Southeastern Credit Unionstrade assoc.

  1 filing · confidence 85%
• League of United Latin American Citizenstrade assoc.

  1 filing · confidence 85%
• Maine People's Alliancetrade assoc.

  1 filing · confidence 85%
• Maryland Consumer Rights Coalitiontrade assoc.

  1 filing · confidence 85%
• melissa leaguetrade assoc.

  1 filing · confidence 85%
• Multipli Credit Unionunverified attribution

  1 filing · confidence 70%
• National Association for Latino Community Asset Builderstrade assoc.

  1 filing · confidence 85%
• National Association of Consumer Advocatestrade assoc.

  1 filing · confidence 85%
• Native American Financial Services Associationtrade assoc.

  1 filing · confidence 85%
• NewCapital LLCunverified attribution

  1 filing · confidence 70%
• Ohio CDC Associationtrade assoc.

  1 filing · confidence 85%
• Oklahoma Policy Institutetrade assoc.

  1 filing · confidence 85%
• Online Lender Alliancetrade assoc.

  1 filing · confidence 85%
• SchoolsFirst Federal Credit Unionunverified attribution

  1 filing · confidence 70%
• Self-Help Credit Unionunverified attribution

  1 filing · confidence 70%
• Senate Finance Committeetrade assoc.

  1 filing · confidence 85%
• Society of St. Vincent De Paultrade assoc.

  1 filing · confidence 85%
• Sun East Federal Credit Unionunverified attribution

  1 filing · confidence 70%
• The Legal Council for Health Justicetrade assoc.

  1 filing · confidence 85%
• The Wisconsin Credit Union Leaguetrade assoc.

  1 filing · confidence 85%
• The Woodstock Institutetrade assoc.

  1 filing · confidence 85%
• U.S. Chamber of Commerce

  1 filing · confidence 97%
• Union for Reform Judaismunverified attribution

  1 filing · confidence 70%
• United South Broadway Corporationunverified attribution

  1 filing · confidence 70%
• Urban League of Broward Countytrade assoc.

  1 filing · confidence 85%
• Virginia Partnership to Encourage Responsible Lendingtrade assoc.

  1 filing · confidence 85%
• VOICE Action Fund Incunverified attribution

  1 filing · confidence 70%
• Wisconsin Council of Churchestrade assoc.

  1 filing · confidence 85%