CFPB Monitor

JUNE 14, 2021

The Act extends the 36% “all-in” Military Annual Percentage Rate (MAPR) finance charge cap of the federal Military Lending Act (MLA) to “any person or entity that offers or makes a loan to a consumer in Illinois” unless made by a statutorily exempt entity.

Illinois 78

Illinois Regulation Report Lending 78

CFPB Monitor

MAY 19, 2022

The other provision is Section 22324 which prohibits “contract[ing] for or “negotiat[ing] in this state for a loan to made outside of the state for purpose of evading or avoiding” California lending law. If such conduct constitutes actionable ‘evasion,’ that would render the constitutional and statutory exemptions null and void.”.

California 78

California Utah United States FDIC 78

CFPB Monitor

NOVEMBER 30, 2020

The trade groups make the following principal arguments in their new filing: The CFPB’s pre- Seila Law unconstitutional structure rendered all of the CFPB’s acts null and void. Constitution and the Administrative Procedures Act (APA) and that the payments provisions have additional infirmities that render them invalid.

Groups 78

Groups Texas Payments Analysis 78

CFPB Monitor

MARCH 25, 2021

The Act provides that any loan made in excess of a 36% MAPR is considered null and void, and no entity has the “right to collect, attempt to collect, receive, or retain any principal, fee, interest, or charges related to the loan.” Each violation of the Act is subject to a fine of up to $10,000. in an online transaction).

Illinois 148

Illinois Lending Retail Analysis 148

CFPB Monitor

JANUARY 19, 2021

The drafters’ inclusion of the “ Predatory Loan Prevention Act ” in SB 1792 would extend the 36% “all-in” Military Annual Percentage Rate (MAPR) finance charge cap of the federal Military Lending Act (MLA) to “any person or entity that offers or makes a loan to a consumer in Illinois” unless made by a statutorily exempt entity (i.e.,

Illinois 60

Illinois Retail Operations Lending 60

PYMNTS

JANUARY 3, 2017

Also an area of concern is the way in which the bureau used various types of statistical modeling to prove alleged racial discrimination in auto lending. Some, however, have noted that acting directly against Cordray may not be necessary at all, since the courts may render the question of his position null and void.

Leadership 103

Leadership Ohio United States Washington 103