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Update On CFPB’s Ability To Repay Provisions

Update On CFPB’s Ability To Repay Provisions

ICBA has urged the Consumer Financial Protection Bureau (CFPB) to ensure the small-dollar marketplace is fair, transparent and competitive. Commenting on the Bureau’s proposal to rescind “ability-to-repay” provisions required by its 2017 small-dollar rule, ICBA supported promoting community banks as model small-dollar lenders, and urged the CFPB to allow flexibility for banks to develop and manage their own reasonable underwriting guidelines.

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