The new rule forces lenders to to assess whether borrowers can repay the loans and limits rollovers, where customers take out new loans to repay old ones; the new rule is likely to face legal challenges and is primarily focused on loans under 45 days. Source
Almost 800,000 U.S. government workers are out of work due to the shutdown and high cost, short term lenders are...
Small dollar loans can be quite profitable. Just look at the number of payday loan stores in the US, there...
Yesterday, the CFPB formally rescinded a plan to impose new limits on payday lending; the proposed changes were a signature...
Despite recent regulatory changes designed to encourage banks to offer small dollar loans few banks are taking up the challenge;...
When the CFPB was first formed the mission was to better protect consumers from financial products that did not suit...
No More Content