CFPB Can Implement Payday Lending Regs Amid Appeal

By McCord Pagan (October 1, 2021, 4:45 PM EDT) -- The Consumer Financial Protection Bureau's remaining payday loan regulations can go into effect next year while trade groups challenging the rule take their fight to the Fifth Circuit, a Texas federal judge has said.

U.S. District Judge Lee Yeakel denied on Thursday a bid by Community Financial Services Association of America Ltd. and Consumer Service Alliance of Texas to stay the agency's 2017 rule on small-dollar loans while the groups take their late August loss up to the appeals court, according to a short order.

"Having considered the motion, response, reply, the case file and the applicable law, the court concludes that...

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