What you ought to find out about brand brand new guidelines proposed for pay day loans

What you ought to find out about brand brand new guidelines proposed for pay day loans

Sweeping brand new guidelines proposed Thursday by the customer Financial Protection Bureau could upend the loan that is payday, which customer advocates say usually traps cash-strapped employees as a vicious period of borrowing.

The number of times people can take out successive loans if enacted, the rules generally will require lenders to verify that borrowers can afford the loans and cap. Read more