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BizFed opposes federal draft proposal governing short-term loans

Posted: February 23, 2016
By: officeadmin

Category: Regulatory Reform, Responsible Government, Small Business and Diversity, Taxes & Fees

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BizFed voted to oppose the federal Consumer Financial Protection Bureau’s (CFPB) proposal to govern payday loans, title loans, deposit advance products, and some installment loans. If CFPB rules are implemented, regulated lenders will face increased operating costs, and an unsustainable decrease in revenue, which would force many to close their doors and lay off employees.

Click here for Short-term Loans Board Materials

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