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CFPB pushes deadline for comment on proposed payday loan rule

The CFPB has given the financial industry extra time to commentpublicly on its  proposed payday loan rule.

The regulator published its proposed payday loan and a related request for informationin the Federal Register on July 22, with a deadline of Oct. 7 for public commenton the proposed rule. It had previously said the deadline for comment was Sept.14.

The comment deadline for the related request for informationremains Oct. 14. The related request for information seeksfeedback on consumer protection concerns related to loans and other credit practicesthat are not addressed in the proposed rule.