The Consumer Financial Protection Bureau (CFPB) announced that it will engage in rulemaking to allow the bureau to reassess its final rule regulating the payday lending and small-dollar lending industries.
House Republicans, as well as three Democrats, co-sponsored legislation introduced Dec. 1 proposing to use the Congressional Review Act to nullify the rule and prevent the bureau from issuing a similar rule in the future.
Find out more about this developing story and what it means for parties who wish to be registered information systems.