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Court Rejects Mulvaney & Payday Lenders' Joint Motion to Delay Payday Rule

June 12, 2018
Payday and Other Small Dollar Loans
Amicus Brief

Before the court in the above styled and numbered cause is the parties' Joint Motion for Stay of Litigation and Stay of Agency Action Pending Review filed May 31, 2018 (Clerk's Document No. 16). By the motion the parties move the court for the following: (1) a stay of this litigation pending agency rulemaking to reconsider Defendant Consumer Financial Protection Bureau's (the "Bureau") final rule on payday, vehicle title, and certain high-cost installment loans (the "Payday Rule"); (2) a stay of the compliance date set forth in the Payday Rule until 445 days after final judgment in this litigation; and (3) a waiver of the Bureau and Defendant John Michael Mulvaney' s obligation to file an answer in this action. Continue reading the order.