The Community Financial Services Association of America retained CRA to evaluate the likely impact on payday lenders of the Consumer Financial Protection Bureau’s (CFPB) proposed rules for payday loans. CRA previously undertook a study of the likely impact on small payday lenders of the rules under consideration by CFPB, prior to its June 2, 2016 proposed rule. This study includes an evaluation of the impact on the payday lending supply of credit, associated revenues, and the profitability of larger storefront payday lenders. To read the report, click the link below.
Fair lending: Considerations when searching for less discriminatory alternatives
The Consumer Financial Protection Bureau increasingly expects institutions to explore less discriminatory alternatives (LDAs) as part of their disparate impact...