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CFPB expects to release a rulemaking proposal on payday, auto title and other similar lending products in the first quarter of 2016, according to an agenda released Friday. A final rule on prepaid accounts is expected in spring 2016.

NAFCU Regulatory Affairs Counsel Alexander Monterrubio raised concerns about potential unintended consequences resulting from future CFPB rulemaking on payday lending in a letter to the bureau last week. The association has also raised concerns with CFPB about the prepaid product proposal's changes to the definition of a "finance charge," as well as its potential to limit consumer access to credit and stifle innovation in terms of products and services.

CFPB also listed the following issues on its agenda:

• beginning a rulemaking process to address concerns related to the use of arbitration agreements;
• preparing a rule concerning overdraft programs on checking accounts;
• researching a rulemaking on debt-collection activities;
• developing rules to define larger participants in markets for consumer installment loans and vehicle title loans;
• implementing requirements that financial institutions report information about lending to women-owned, minority-owned and small businesses; and
• supporting implementation of the Home Mortgage Disclosure Act and other mortgage rules.

As far as long-term objectives, CFPB noted potential additional rules or amendments to existing rule on consumer credit reporting and student-loan servicing.