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Brand New Payday-Loan Rules Won Avoid Predatory Lenders

Brand New Payday-Loan Rules Won Avoid Predatory Lenders

The proposed rules focus on determining capacity to straight back pay the loans. But actually enforcing underwriting needs is harder than enforcing specific product safety tips.

A debtor taking out fully a $500 loan could however invest over 300 % in annual interest, despite brand new guidelines designed to crack straight down on predatory lending this is certainly small-dollar Thursday through the consumer Financial Protection Bureau (CFPB). Continue reading Brand New Payday-Loan Rules Won Avoid Predatory Lenders