Is Regulation the response to America’s Cash Advance Addiction?
Is Regulation the response to America’s Cash Advance Addiction? A week ago, the customer Financial Protection Bureau, the federal watchdog agency faced with protecting Americans from financial exploitation, proposed long-awaited new laws in the lending industry that is payday. Beneath the brand brand new laws, payday loan providers will be expected to validate an applicant’s ability to re-pay that loan without re-borrowing by the end of this loan duration. The proposed regulations simply take aim at a payday lending practice...