Payday, Small-Dollar Loan & Rent-to-Own Rule Watch

Why this is recommended

A state rate cap that cuts a $500 loan's cost by $300, a settlement refund, or a credit union alternative at 28 percent instead of 400 percent each pays the year's fee many times over.

What the Tab covers

Who it is for

The 12 million Americans who use payday loans each year, the 15 million who use cash advance apps, and the households paying for furniture or electronics on rent-to-own.

When it runs

State rate cap laws take effect January 1 and July 1, CFPB rules have staggered compliance dates, and earned wage access apps change fees quarterly

Scope

State legislatures and financial regulators; CFPB rulemaking and enforcement; state attorney general actions; EarnIn, Dave, Brigit, MoneyLion, Chime and Cleo fee pages; Rent-A-Center, Aaron's and Acima; NCUA payday alternative loan rules; settlement administrator deadlines

Suggested task

The objective your Tab starts with. You can edit every line of it once the Tab is yours.

State interest rate caps and payday loan restrictions with effective dates, CFPB payday, earned wage access and overdraft rule changes, enforcement actions against lenders and rent-to-own chains by name, credit union small-dollar loan programs, refund and cancellation deadlines from settlements, and fee changes at cash advance apps, with the state or lender first.

Track small-dollar credit rules for US consumers. Report only confirmed, source-backed items from the last 7 days: state interest rate cap and payday loan law changes with effective dates; CFPB rules on payday lending, earned wage access, overdraft and cash advance apps with compliance dates; CFPB and state attorney general enforcement actions against payday lenders, title lenders, cash advance apps and rent-to-own chains including Rent-A-Center, Aaron's and Acima; fee and tip changes at EarnIn, Dave, Brigit, MoneyLion, Chime and Cleo; NCUA payday alternative loan program changes; and settlement refund claim deadlines. Prefer regulator, legislative, court and company fee pages; ignore lender advertising. Put the state or lender first in the title. Use high severity for a rate cap taking effect within 30 days, an enforcement action with refunds, or a claim deadline within 14 days. Return no more than 6 findings. Push each as a finding with a title, a two-sentence summary, sections for what changed, who qualifies, the deadline, the cheaper alternative, and the source link. If nothing qualifies, push nothing and submit the run receipt.