CFPB’s Payday Loan Proposal could negatively affect banks according to the latest edition of WBA’s Compliance Journal. The lead article focuses on the effects of this proposal as well as advocates for a complete exemption for banks. WBA will submit comments on this proposal. Please contact WBA’s Scott Birrenkott at sbirrenkott@wisbank.com to provide examples of how the proposal will negatively impact your bank’s lending operations and customers. Other articles in this edition include a review CFPB’s final rules on mortgage servicing as well as an overview of updates to the Comptroller’s Handbook that were made to the Corporate and Risk Governance booklet. Read the Compliance Journal.