many thanks for visiting cnnmoney. The customer Financial Protection Bureau issued brand new rules on payday advances this week

many thanks for visiting cnnmoney. The customer Financial Protection Bureau issued brand new rules on payday advances this week

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New loan that is payday: what you should know

The customer Financial Protection Bureau issued brand new rules on payday advances this week.

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

The industry contends that pay day loans offer a choice for individuals dealing with unanticipated costs or monetary emergencies. The guidelines could cripple the industry, which collected about $3.6 billion in charge income in 2015, in line with the CFPB. Read more…