On November 25, the U.S. Court of Appeals for the Fifth Circuit granted motions for clarification from both the appellants and the appellees to specify that the court’s stay will be lifted on March 30, 2025, for the CFPB’s payday lending rule. As previously covered by InfoBytes, the CFPB announced its payday lender rule will take effect on March 30, 2025, and this order issued by the appellate court confirms such date. The court’s decision modifies the order entered October 14, 2021, and specifies that March 30, 2025, is 286 days following the U.S. Supreme Court’s judgment in the case. Most recently in this case, the 5th Circuit denied rehearing en banc (covered by InfoBytes here).
