The Consumer Financial Protection Bureau announced that it will not prioritize enforcement or supervision actions related to penalties or fines under the Payment Withdrawal provisions and the Payment Disclosure provisions of the Payday, Vehicle Title, and Certain High-Cost Installment Loans Regulation when those provisions become operative on March 30, 2025. Enforcement and supervision resources will instead be directed at “pressing threats to consumers,” with a particular focus on servicemen and veterans. The Bureau also said it is contemplating issuing a notice of proposed rulemaking to narrow the scope of the rule.
Consumer Financial Protection Bureau 2025-03-28
Consumer Financial Protection Bureau deprioritizes penalties and fines enforcement for payment withdrawal and disclosure provisions in small-dollar lending rule
The Consumer Financial Protection Bureau will deprioritize enforcement of penalties under the Payment Withdrawal and Payment Disclosure provisions of the Payday, Vehicle Title, and Certain High-Cost Installment Loans Regulation from March 30, 2025. Resources will focus on consumer threats, especially affecting servicemen and veterans. The Bureau is considering a notice of proposed rulemaking to narrow the rule's scope.