Pay day loan Rule Signed: “Ability to Repay” Standards Narrowed, however, Pressures and Dangers Loom Highest
Pay day loan Rule Signed: “Ability to Repay” Standards Narrowed, however, Pressures and Dangers Loom Highest The newest CFPB thinks particularly financing, which can be usually from community finance companies otherwise borrowing unions so you’re able to existing customers, twist less chance to users and you can, thus, not one of them the full element-to-pay test Towards the , the consumer payday loans Ellijay no checking account Monetary Protection Agency (the brand new “CFPB”) released its latest signal targeting just what it means while the “pay check debt barriers” (this…
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