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You are covered under the CFPB’s payday proposal – Now what?
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Banking, Consumer Protection, Dodd-Frank Basics, Legislation, Nonbank Financial
Tuesday, June 28, 2016
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You’ve determined that your loan products would be covered under the Consumer Financial Protection Bureau’s sweeping payday lending proposal. What does this mean? What are some of the possible limitations and liabilities? In Part 2 of this two-part series, Dodd Frank Update explores the bureau’s ability-to-repay requirements and the alternative lending options for short-term and longer-term loans.
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