Payday Lending: Will Anything Better Change It?

Payday Lending: Will Anything Better Change It?

The Consumer Financial Protection Bureau found that 67 percent went to borrowers with seven or more transactions a year, and the majority of borrowers paid more in fees than the amount of their initial loan after studying millions of payday loans. This is the reason Diane Standaert, the manager of state policy during the Center for Responsible Lending, which contends for a 36 per cent interest-rate limit, states, “The typical debtor experience involves long-term indebtedness — that’s core to your business structure.”

And yet it really is interestingly hard to condemn the continuing company wholesale

Crisis credit may be a lifeline, in the end. (mais…)

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