CFPB Must Take Principle-Based Approach to Rewriting Small Dollar Rule

The CFPB should focus on reworking the small dollar rule. OLA CEO shares her thoughts on Morning Consult.

“It is welcome news to see the Consumer Financial Protection Bureau announce the intent to revisit its Small Dollar Loan Rule. This sustained focus on principle-based regulations from Director Kathy Kraninger is consistent with recent actions from the Office of the Comptroller of the Currency and Treasury and is in line with the administration’s commitment to streamlining regulations to make them more efficient and responsive to consumers and businesses.”

Read the full article here.

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