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Trade groups challenging CFPB’s cash advance rule file initial injunction movement

Trade groups challenging CFPB’s cash advance rule file initial injunction movement

The 2 trade teams that unsuccessfully attempted to get a stay regarding the August 19, 2019 conformity date when it comes to CFPB’s final payday/auto title/high-rate installment loan rule (Payday guideline) have finally filed A movement for Preliminary Injunction to enjoin the CFPB from enforcing the Payday Rule. Even though the Texas district that is federal had rejected a stay associated with conformity date, it had given the trade teams’ ask for a stay associated with the April 2018 lawsuit they’d filed challenging the Payday Rule. According, simultaneously with filing the initial injunction movement, the trade teams also filed an Unopposed movement to raise the Stay of Litigation.

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