7 years ago
Consumer protection bureau cracks down on payday lenders with tough nationwide regulations
The nation’s top consumer financial watchdog on Thursday issued tough nationwide regulations on payday and other short-term loans, aiming to prevent lenders from taking advantage of cash-strapped Americans. The long-awaited rules from the Consumer Financial Protection Bureau — the first broad federal regulations — would require lenders in most cases to assess whether a consumer can repay the loan.
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http://www.latimes.com
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