Nacha News

Nacha creates broadly adopted payment and financial messaging rules and standards through consensus-led governance, international collaboration, and innovative development practices. We continually advance the ubiquitous ACH Network and engage diverse stakeholders to accelerate a digital future of global financial services interoperability.

CFPB Delays Compliance Date for Payday Lending Rule

The Consumer Financial Protection Bureau has officially delayed the August 19 compliance date for the underwriting provisions of the agency's 2017 payday lending rule to Nov. 19, 2020.

The bureau issued a final ruling Thursday formally delaying the compliance date to November 2020 alongside a proposed rulemaking to rescind portions of the rule's ability-to-repay provisions.