[20200710]IN11059_CFPB最终确定了新的发薪日贷款规则扭转了之前的监管.pdf

CRS INSIGHT Prepared for Members and Committees of Congress INSIGHTINSIGHTi i CFPB Finalizes New Payday Lending Rule, Reversing Prior Regulation Updated July 10, 2020 On July 7, 2020, the Consumer Financial Protection Bureau (CFPB) released a new final rule to amend its regulations for payday, vehicle title, and certain high-cost installment loans. The rule rescinds a significant part of a 2017 final rule that requires small-dollar, short-term lenders to determine a consumers ability to repay before issuing a new loan. This Insight begins with an overview of payday loans and then briefly summarizes the 2017 rule and major changes finalized by the CFPB. It also reviews the data and analysis supporting these rules, and the different conclusions each version of the rule reached using this same evidence. Although the CFPBs rule covers other small-dollar markets (e.g., auto title loans and other installment loans), this Insight focuses on payday loans, currently the largest market covered by the rule. For general information on the payday loan market, see CRS Report R44868, Short-Term, Small-Dollar Lending: Policy Issues and Implications. Payday Loans Overview Payday loans are designed