CFPB’s new agenda freezes more Trump-era regulatory plans

Law360 (June 11, 2021, 8:52 p.m. EDT) – The Consumer Financial Protection Bureau is reversing Trump-era plans to potentially craft new disclosures for payday loan borrowers and will not use its regulatory authority to fix more limits on what he considers abusive behavior, at least for now.

According to its spring 2021 regulatory program released on Friday, CFPB interim director Dave Uejio, appointed by President Joe Biden, has scrapped a project started last fall under the leadership of former director Kathleen Kraninger, appointed by the then President Donald Trump to conduct payment testing with consumers. loan disclosure options for possible regulation on the subject.

“The purpose of this research was to identify …

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