Monthly Archives: June 2016

Payday loans and auto title loans face tough new crackdown

Payday loans will be severely restricted under new rules proposed today by federal regulators. Primarily, the rules will require lenders to ensure consumers can afford to repay loans and will require lenders to report loans to a credit bureau-like entity to track the number of outstanding loans and the amount owed. . The rules proposed by the Consumer Financial Protection ...

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