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NAFCU requests ‘express exemption’ from CFPB’s payday rulemaking
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Consumer Protection, Legislation, Nonbank Financial
Tuesday, November 24, 2015
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In a letter to the Consumer Financial Protection Bureau’s Office of Financial Institutions, the National Association of Federal Credit Unions asked for an express exemption for lenders that follow the National Credit Union Administration’s Payday Alternative Loan program and offered recommendations for how the bureau could avoid restricting borrower access to short-term, small-amount loans. Read on for more details.
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