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Overview: CFPB’s Repeal of its 2017 Ability-to-Repay Standard for Payday & Car Title Loans

August 24, 2020
Payday and Other Small Dollar Loans
Payday Loans
Policy & Legislation

The Consumer Financial Protection Bureau (CFPB), under Director Kathy Kraninger, gutted a 2017 CFPB rule aimed at stopping the debt trap caused by payday and car title loans. This action will have a harmful impact on American consumers and their families, including a disproportionate number of people of color.

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