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CFPB delays compliance date for mandatory underwriting provisions
Posted: Jun 10, 2019 | Author:
Last Thursday, the Consumer Financial Protection Bureau issued a final rule to delay the Aug. 19, 2019, compliance date for the mandatory underwriting 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).
Compliance with these provisions of the Rule is delayed by 15 months, to Nov. 19, 2020. The Bureau is also making certain corrections to address several clerical and non-substantive errors it has identified in other aspects of the Rule.
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