Tik Tok: The Compliance Clock Is Ticking for Small-Dollar Lenders in 2020
By EsqSocial Corporation 05/05/21
[co-author: Hurshell K. Brown - Beyond Finance, LLC] INTRODUCTION - Small-dollar lenders waited through most of 2020 for the Consumer Financial Protection Bureau’s (“CFPB’s”) final rulemaking addressing payday, vehicle title, and certain high-cost installment loans. Meanwhile, the CFPB, the Federal Trade Commission (“FTC”), and various states continued to take action to curtail certain practices. This survey addresses compliance issues related to the smalldollar lending industry over the past...
By: Hudson Cook, LLP