What Bankers Need to Know About the CFPB's Propsed Rule on Payday, Vehicle Title and Certain High-Cost Loans!
The Consumer Financial Protection Bureau’s (CFPB’s) proposed rule introduces a new set of requirements that will require review, analysis and implementation. The proposed rule was recently published on July 22, 2016 with comments due by November 7, 2016. Comments on the concurrent Request for Information (RFI) are due by October 14, 2016.
The agenda for the webinar touched on how to prepare for the proposed rule such as:
- Timing
- Who will be impacted
- Core elements
- Practical compliance
- Steps to ensure ATR compliance
- Enhancing decision processes
- Implementation steps
