Is Regulation the response to America’s Cash Advance Addiction?

Is Regulation the response to America’s Cash Advance Addiction?

(Picture: Thomas Hawk/Flickr)

The other day, the customer Financial Protection Bureau, the federal watchdog agency faced with protecting Americans from monetary exploitation, proposed long-awaited new laws from the lending industry that is payday. Underneath the brand new laws, payday loan providers could be needed to confirm an applicant’s ability to re-pay that loan without re-borrowing at the conclusion associated with the mortgage duration. Continue reading Is Regulation the response to America’s Cash Advance Addiction?