Category: payday loans for veterans

CFPB Signals Renewed Enforcement of Tribal Lending

CFPB Signals Renewed Enforcement of Tribal Lending

The CFPB has sent different messages regarding its approach to regulating tribal lending in recent years. The CFPB pursued an aggressive enforcement agenda that included tribal lending under the bureau’s first director, Richard Cordray. After Acting Director Mulvaney took over, the CFPB’s 2018 five-year plan suggested that the CFPB had no intention of “pushing the envelope” by “trampling upon the liberties of y our residents, or interfering with sovereignty or autonomy associated with the states or Indian tribes.” Now, a present decision by Director Kraninger signals a return to a far more aggressive position towards tribal financing linked to enforcing federal customer monetary legislation.…