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Volume 29 - Number 16

August 6, 2018

Treasury Recommends CFPB Abandon Payday Lending Rule

The U.S. Treasury Department in a recent report urged the CFPB to rescind its payday lending rule because the states already have regulatory structures in place for the industry. ďTreasury recognizes and supports the broad authority of states that have established comprehensive product restrictions and licensing requirements on nonbank short-term, small-dollar installment lenders and their products,Ē said the agencyís long-awaited report on fintech that was ...

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Poll

With mortgage production down noticeably this year from 2017, how many lenders might disappear via M&A or failure during the next 12 months?

10% or less. It’s not that bad out there.

17%

11% to 25%. It’s a challenging market.

48%

25% to 40%. It’s going to be very ugly.

24%

No opinion.

11%