Advanced Search

Volume 25 - Number 7

March 31, 2014

Payday Lending Regs on the Way After CFPB Issues Critical Report

New regulations on payday lending will be coming from the CFPB at some point, after the bureau issued a report last week that found that 80 percent of all payday loans are rolled over or renewed within 14 days. Further, the bureau found that the majority of such loans are made to borrowers who end up paying more in fees than the amount of money originally borrowed. “One could readily conclude that the business model of the payday industry depends on people becoming stuck in these loans for the long term,” said CFPB Director Richard Cordray in releasing the report.

Subscribers to Inside the CFPB have full access to all its stories and data online. Visitors may become subscribers for full access or may purchase individual articles and data.

Subscriber Log In

If you are a current subscriber or already purchased this article, please login below.

Forgot your password?

Already subscribe but haven't registered for all the benefits of the website?


This biweekly keeps mortgage executives on top of the onslaught of new legal and regulatory issues the industry has been seeing.



You can purchase this article for $55.00 without subscribing and always have access to it on

Pay Per View

Please contact Customer Service if you need assistance: 1-800-570-5744


In 2016, what have you been paying your retail residential loan officers, on average, as a commission?

25 to 50 basis points per loan
51 to 75 bps
76 to 100 bps
101 to 150 bps
More than 150 bps
We’re a call center lender and don’t disclose that data point.

vote to see results
Housing Pulse