The in Public Finance: Feds to Revisit Payday Loan Restrictions, a Pot Appeal and a Better Way to Do Property Taxes week
A roundup of cash (as well as other) news governments may use.
Could be the New Federal Cash Advance Crackdown on Hold?
The buyer Financial Protection Bureau’s interim manager, Mick Mulvaney, is apparently doing precisely what customer advocate groups feared he would: walking regulations that are back historic payday financing.
This week, Mulvaney announced an agenda to revisit a current rule requiring payday and vehicle title loan providers to validate key information from potential borrowers, including if they are able the mortgage payments. It really is planned to get into effect in 2019.
The CRLвЂ™s Diane Standaert warned that вЂњthis week’s statement is an indication that Mulvaney can be attempting to make life easier for payday financing loan sharks to your detriment of customers. in a contact to GoverningвЂќ
The Takeaway: When President Trump appointed Mulvaney towards the place in November, it caused near-hysteria among consumer groups whom felt he would undermine the agency’s objective.