Center for Responsible Lending: CFPB Rescinds 2020 Advisory Opinion on Earned Wage Advances
January 17, 2025
January 17, 2025
DURHAM, North Carolina, Jan. 17 (TNSres) -- The Center for Responsible Lending issued the following news release on Jan. 16, 2025:
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Opinion was misused to claim that fintech payday loans are not "credit"
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The Federal Register yesterday published a notice (https://www.govinfo.gov/content/pkg/FR-2025-01-15/pdf/FR-2025-01-15.pdf#page=31) that the Consumer Financial Protection Bureau (CFPB) issued a new Advisory Opinion that res . . .
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Opinion was misused to claim that fintech payday loans are not "credit"
* * *
The Federal Register yesterday published a notice (https://www.govinfo.gov/content/pkg/FR-2025-01-15/pdf/FR-2025-01-15.pdf#page=31) that the Consumer Financial Protection Bureau (CFPB) issued a new Advisory Opinion that res . . .