The Week in Public Finance: Feds to Revisit Payday Loan Restrictions, a Pot Appeal and an easy method to complete Property Taxes
A roundup of income (as well as other) news governments may use.
May be the Brand New Federal Cash Advance Crackdown on Hold?
The customer Financial Protection Bureau's interim manager, Mick Mulvaney, seems to be doing just what customer advocate teams feared he would: walking regulations that are back historic payday financing.
This week, Mulvaney announced a strategy to revisit a rule that is recent payday and automobile name loan providers to confirm key information from potential borrowers, including whether or not they are able the mortgage payments. Its scheduled to enter impact in 2019.
The CRLвЂ™s Diane Standaert warned that вЂњthis week's statement is a sign that Mulvaney might be attempting to make life easier for payday financing loan sharks into the detriment of consumers. in a message to GoverningвЂќ
The Takeaway: When President Trump appointed Mulvaney to your place in November, it caused near-hysteria among consumer groups who felt he'd undermine the agency's mission.