Truth in Lending (Regulation Z): Consumer Credit Offered to Borrowers in Advance of Expected Receipt of Compensation for Work

4 organizations filed 4 public comments on Truth in Lending (Regulation Z): Consumer Credit Offered to Borrowers in Advance of Expected Receipt of Compensation for Work, at the Consumer Financial Protection Bureau. The comment window closed 697d ago.

Abstract

SUMMARY: The Consumer Financial Protection Bureau (CFPB) is charged with promoting competition and innovation in consumer financial products and services. After careful study of emerging offerings in the paycheck advance marketplace, including those marketed as “earned wage advances” and “earned wage access,” the CFPB is proposing this interpretive rule to help market participants determine when certain existing requirements under Federal law are triggered. The proposed interpretive rule would also address certain costs that are in substantial connection. ADDITIONAL INFORMATION: For more information about commenting on CFPB’s Notices, please ulation M)” approved under OMB Control Numbevisit us at: https://www.consumerfinance.gov/rules-policy/notice-opportunities-comment/commenting-on-notices/

Commenters (4)

• American Bankers Associationtrade assoc.

  1 filing · confidence 97%
• National Automobile Dealers Associationtrade assoc.

  1 filing · confidence 97%
• National Retail Federationtrade assoc.

  1 filing · confidence 97%
• Wisconsin Bankers Associationtrade assoc.

  1 filing · confidence 97%