**Regulatory thaws: Iowa lifts rate cap to 36%, CFPB drops disparate impact**
Key Questions
What change did Iowa make to its consumer loan interest rate cap?
The Iowa legislature approved raising the cap from 1-3% to 36% annually on consumer loans. This aims to expand subprime credit access for over 250k residents and retain lending in-state.
What is the CFPB's action on disparate impact in lending?
The CFPB eased AI underwriting rules by dropping disparate impact requirements via OMB. This pairs with initiatives like Experian's No Ding Decline™ and Oregon's opt-out to support fintech expansion.
How does Experian's No Ding Decline™ fit into regulatory changes?
Experian's No Ding Decline™ allows soft credit pulls for personal loans without score impact, aligning with regulatory thaws like Iowa's rate cap lift and CFPB's easing. It facilitates broader credit access amid stress.
Iowa legislature approves consumer loan rate cap jump from 1-3% to 36% for 250k+ subprime access/in-state retention; CFPB eases AI underwriting via disparate impact drop (OMB); pairs with Experian No Ding, Oregon opt-out. Watch multistate pricing/licensing, model compliance, fintech expansion amid stress.