- About CFSA
- Policy Makers
The small-dollar lending industry is highly regulated at the state level in all of the states that allow small-dollar loans. Regulations have been carefully studied and enacted at the state level where they have largely been able to strike a successful balance between access to credit and consumer protection, while also considering local or regional concerns. State-level regulators best understand their residents and are thus most capable of addressing the financial needs of customers in these states. One-size-fits-all federal regulatory proposals tend to overlook the nuances of communities that local and state officials are better able to gauge due to their closer and stronger relationships.
By Mickey Mays
The Consumer Financial Protection Bureau (CFPB) will soon release a final rule to fix the most glaring issues with its 2017 small-dollar lending rule, which stood to shutter hundreds of small businesses and leave millions of consumers without access to credit.
May 27, 2020
By Brian Lynn
Federal regulators at the Consumer Financial Protection Bureau (CFPB) are soon expected to roll back portions of a small-dollar lending rule titled, “Payday, Vehicle Title, and Certain High-Cost Installment Loans,” issued under former Director Richard Cordray. This is good news for Florida consumers and small businesses....
May 22, 2020
By Dennis Shaul
Critics of small-dollar lending are at it again, this time attacking the Consumer Financial Protection Bureau’s (CFPB) forthcoming reconsideration of the 2017 small-dollar lending rule. Politics, the critics claim, is behind the current rulemaking – a hypocritical allegation that has many of us scratching our heads in disbelief......
May 22, 2020