The CFPB’s 2026 Regulatory Agenda, released July 6, confirms that the Bureau intends to issue a Notice of Proposed Rulemaking reconsidering the remaining provisions of its 2017 Payday, Vehicle Title, and Certain High-Cost Installment Loans Rule, including its compliance dates. The NPRM is anticipated as early as this month and is designated as a deregulatory action, consistent with the broader theme of reconsidering rules issued under prior Bureau leadership.
The rulemaking would formalize a shift the Bureau signaled more than a year ago. After a Supreme Court's decision resolved the constitutional challenge to the Bureau's funding structure, the rule's payment provisions, the only provisions remaining were a prohibition on lenders initiating further withdrawal attempts from a borrower's account after two consecutive attempts fail for insufficient funds, and (2) certain consumer notice requirements, including advance notice before a first withdrawal attempt and notice of consumer rights after two consecutive failed attempts. These provisions were to take effect March 30, 2025 but two days before that compliance date, the Bureau announced it would not prioritize enforcement or supervision with respect to penalties or fines associated with the payment withdrawal and payment disclosure provisions (previously discussed here).
Putting It Into Practice: The forthcoming NPRM will be the first opportunity for formal industry input on the rule's scope since the payment provisions took effect. Covered lenders should keep in mind that any relief the Bureau proposes will take time to finalize and may draw legal challenge from consumer advocates. Accordingly interim compliance remains critical while the rulemaking proceeds.