The CFPB’s Payday Lending Rule is really a Grand Slam for Banks and Credit Unions

Beth Planakis

Director of Advertising, Velocity Possibilities

It’s hard to believe it is been seven years considering that the creating regarding the CFPB, however it’s simple to keep in mind exactly just what fueled its creation – a crisis that is financial Us citizens hadn’t seen because the Great Depression. And the thing that was the most fuels that are flammable the fire? Mortgages. Especially, mortgages that customers couldn’t pay for, couldn’t realize, as well as for which, in years prior, would not have qualified.

Therefore, within the 2010 Dodd-Frank Wall Street Reform and customer Protection Act, the CFPB ended up being created to guard customers from unjust, misleading or abusive methods in financial services to their dealings and items. Continua a leggere