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Customer Watchdog Reins In Payday Lenders With Strict New Measures

Customer Watchdog Reins In Payday Lenders With Strict New Measures

Federal regulators issued brand new guidelines on Thursday which will drastically rein in access to pay day loans and limit specific practices which have drawn ire from customer advocates.

Payday advances, which offer strapped consumers with immediate access to money, are generally described as their ultra-high interest levels and repayment that is short. Borrowers frequently can not manage to spend them right back therefore wind up taking out fully brand new loans and getting stuck in a period of financial obligation. Continue reading Customer Watchdog Reins In Payday Lenders With Strict New Measures