Let me make it clear about customer bureau scraps cash advance guidelines

Let me make it clear about customer bureau scraps cash advance guidelines

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The buyer Financial Protection Bureau on Tuesday formally rescinded a strategy to impose brand brand new limitations on payday financing, handing the industry an important triumph by killing down tighter guidelines so it invested years lobbying to overturn.

The proposed guidelines could have been the initial significant federal laws on a business that produces $30 billion per year in high-interest, short-term loans, frequently to borrowers that are already struggling. Continue Reading →