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Georgia considers pay day loans so dangerous to borrowers that they’re prohibited within state lines. U.S. armed forces officers testified before state lawmakers that the high interest, short-term paycheck improvements drown sailors and soldiers with debt. The U.S. Consumer Financial Protection Bureau, a federal consumer watchdog agency, planned a crackdown at one point. When a [...]
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The nation’s top consumer monetary watchdog on Thursday issued tough nationwide regulations on payday as well as other short-term loans, planning to avoid loan providers from using cash-strapped People in the us. The long-awaited rules from the buyer Financial Protection Bureau — the initial broad federal regulations — would require loan providers in many cases [...]
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