What you ought to realize about brand brand new guidelines proposed for payday advances

What you ought to realize about brand brand new guidelines proposed for payday advances

Sweeping brand brand new guidelines proposed Thursday by the customer Financial Protection Bureau could upend the pay day loan industry, which customer advocates say usually traps cash-strapped employees into 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.Continue reading