Federal Court Upholds Key Protection for Payday Loan Borrowers

Andy Spears
2 min readSep 7, 2021

A federal district court has upheld a key provision of a Consumer Financial Protection Bureau (CFPB) rule designed to protect payday, car title, and other borrowers. The rule prevents these lenders from making repeated attempts to debit funds from a borrower’s account. These repeated attempts to debit funds often result in overdraft fees or even the closure of a borrower’s checking account.

Acting CFPB Director Dave Uejio indicated that the move by the court will help ensure consumers are protected:

--

--

Andy Spears

Writer and policy advocate living in Nashville, TN —Public Policy Ph.D. — writes on education policy, consumer affairs, and more . . .