Veterans and Military Service Organizations urge the US Consumer Financial Protection Bureau not to delay implementation of Payday Loans protection rule

The undersigned Military and Veteran Service Organizations (MSO/VSOs) write to express opposition to the proposed delay of the Consumer Financial Protection Bureau’s (CFPB) 2017 rule regulating Payday, Vehicle Title and Certain High-Cost Installment Loans. The rule is currently set to be implemented on August 19, 2019. However, CFPB has proposed delaying compliance with the rule by 15 months to November 19, 2020.