CFPB Compliance Deadline: Payday, Vehicle Title, and Certain High-Cost Installment Loans
The CFPB published a final rule delaying the compliance date for the mandatory underwriting provisions of the 2017 final rule governing Payday, Vehicle Title, and Certain High-Cost Installment Loans by fifteen months from August 19, 2019, to November 19, 2020. This final rule also makes conforming changes and corrections to address non-substantive errors.
Note: Credit unions do not have to comply with the Payments Provisions (Subpart C) until a court-ordered stay is lifted.
Download the latest full Compliance Calendar, including proposed regulations, past deadlines and more.