Brand Brand New Payday-Loan Rules Won’t Stop Predatory Lenders. The proposed rules concentrate on determining capacity to spend the loans straight back.
Brand Brand New Payday-Loan Rules Won’t Stop Predatory Lenders. The proposed rules concentrate on determining capacity to spend the loans straight back.
But actually enforcing underwriting requirements is more challenging than enforcing particular item security rules.
A debtor taking out fully a $500 loan could nevertheless pay over 300 per cent in annual interest, despite brand new guidelines made to break down on predatory small-dollar financing out Thursday through the Consumer Financial Protection Bureau (CFPB). […]