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New loan that is payday: what you should understand

New loan that is payday: what you should understand

The buyer Financial Protection Bureau issued brand new rules on pay day loans this week.

Customer advocates state the guidelines can help low-income individuals and families caught in endless rounds of financial obligation.

The industry contends that pay day loans offer a choice for folks dealing with unanticipated costs or economic emergencies. The guidelines could cripple the industry, which collected about $3.6 billion in cost revenue in 2015, in line with the CFPB. Continue reading New loan that is payday: what you should understand