Details

  • Service: Advisory, Risk Consulting, Financial Risk Management
  • Industry: Banking & Capital Markets
  • Type: Publication series
  • Date: 6/18/2013

Regulatory Practice Letter #13-11 

Payday Loans and Deposit Advance Products - CFPB Report, FDIC, OCC and Federal Reserve Guidance

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On April 24, 2013, the Bureau of Consumer Financial Protection (“CFPB” or “Bureau”) released a review of short-term small dollar loans. The review, entitled “Payday Loans and Deposit Advance Products,” looks at payday loans extended by