In the News

Morgan Lewis Principal Weighs In on Payday Loan Debate,

February 18, 2019

Morgan Lewis partner Nicholas Gess spoke with about the Consumer Financial Protection Bureau’s (CFPB) guidance that it will overhaul a number of payday loan regulations that were expected to go into effect in August. Nick says in the article that the CFPB’s move to rescind the “ability to repay” provision is in line with the Trump administration’s stated desire to roll back regulations. He adds that “the CFPB has shifted from looking only at the direct impact on consumers of the lending practice in question to a broader balancing effort in which consumer access to credit is considered as well.”

Read the full article.