Is Legislation the response to America’s Cash Advance Addiction?

Is Legislation the response to America’s Cash Advance Addiction? (Picture: Thomas Hawk/Flickr) A week ago, the customer Financial Protection Bureau, the federal watchdog agency faced with protecting Americans from monetary exploitation, proposed long-awaited new laws regarding the lending industry that is payday. Beneath the brand brand new laws, payday loan providers will be necessary to validate an applicant’s ability to re-pay that loan without re-borrowing by the end associated with mortgage duration. The proposed regulations just just take aim at a payday lending practice that is particularly devastating. Whilst the…

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