ARLINGTON, Va. (September 04, 2025)—Today, after the Consumer Financial Protection Bureau (CFPB) published its updated rulemaking agenda which indicates that the agency intends to proceed with future rulemaking on the 2017 Small Dollar Loan Rule, Online Lenders Alliance Chief Executive Officer Andrew Duke Issued the following statement:
“Today’s disclosure that the CFPB intends to issue a proposed rule reconsidering the remaining provisions of its 2017 Small Dollar Loan rule is a victory for consumers and their ability to access credit. At its inception, the Rule was politically driven and built around dubious assumptions using suspect data. After years of sitting on the shelf, the rule has gone from flawed to outdated.
“The world has shifted since the rule was crafted, with new products, new payment regimes, and new ways that workers earn money and get paid. The Small Dollar Loan rule conflicts with these modern realities, and the Bureau itself has released data over the years that undermines its basis.
“We applaud the Administration’s decision to recognize these realities, support consumers who benefit from more options when seeking credit, and move to revisit this rule.”
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