Within the 2017 Final Rule, the Bureau established customer security laws for payday advances, car title loans, and specific high-cost installment loans.

Within the 2017 Final Rule, the Bureau established customer security laws for payday advances, car title loans, and specific high-cost installment loans.

II. Background

As stated above, the 2017 last Rule addressed two discrete subjects: The Mandatory Underwriting Provisions and the Payment Provisions. The required Underwriting conditions identified as an unjust and practice that is abusive making of certain short-term and longer-term balloon-payment loans without fairly determining that customers will have a way to settle the loans based on their terms. Continue reading “Within the 2017 Final Rule, the Bureau established customer security laws for payday advances, car title loans, and specific high-cost installment loans.”