Payday Loans Are A Bad Deal Payday loans are coming to the attention of federal regulators; the feds are moving to curb and do away with high-interest, short-term lending, which is designed to draw people into a cycle of debt. After a lengthy study on repeat usage of payday loans created by storefront lenders, the Consumer Financial Protection Bureau said it is considering imposing waiting times between loans. Some new guidelines have already been issued, by the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency; these are similar to rules set a decade ago to [...]
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