The Bureau is conducting a rulemaking to address consumer harms from practices related to payday loans and other similar credit products, including failure to determine whether consumers have the ability to repay without default or reborrowing and certain payment collection practices.  Under the Small Business Regulatory Enforcement Fairness Act (SBREFA), the Bureau released in March 2015 an outline of proposals under consideration for the rulemaking.  As part of the SBREFA process, in April 2015, the Bureau along with the Office of Management and Budget and the Small Business Administration’s Chief Counsel for Advocacy, met with small lenders that may be affected by the rulemaking to obtain feedback on the proposals.  This rulemaking builds on Bureau research, including a white paper the Bureau published on these products in April 2013, a data point providing additional research in March 2014, and ongoing analysis.