|June 10, 2014|
Previously published on June 4, 2014
On May 23rd, the CFPB posted a semi-annual update of its rulemaking agenda.1 Under the Regulatory Flexibility Act, federal agencies must publish their regulatory agendas twice a year.
According to the latest rulemaking agenda, the CFPB is in the “pre-rule” stage of developing regulations covering payday loan, deposit advance, overdraft, and debt collection products.
Regulations covering prepaid cards are in the “proposed rule” stage and are expected to be issued in June 2014.
Finally, the CFPB officially confirmed in the agenda that it intends to issue a proposed rule defining “larger participants” in the auto lending market in August 2014.
1 See the Spring 2014 rulemaking agenda at http://www.consumerfinance.gov/blog/spring-2014-rulemaking-agenda/.