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Is Regulation the clear answer to America’s Cash Advance Addiction?

Is Regulation the clear answer to America’s Cash Advance Addiction?

(Picture: Thomas Hawk/Flickr)

The other day, the customer Financial Protection Bureau, the federal watchdog agency faced with protecting Americans from economic exploitation, proposed long-awaited new laws in the lending industry that is payday. Beneath the new laws, payday loan providers will be necessary to confirm an applicant’s ability to re-pay that loan without re-borrowing by the end regarding the mortgage duration. Continue Reading