Idyllic school

New Payday Loan Rules Won’t Stop Predatory Lenders

A subscribing borrower a $ 500 loan could still pay more than 300% annual interest, despite new rules designed to crack down on predatory small dollar lending on Thursday from the Consumer Financial Protection Bureau (CFPB). The consumer protections proposed for payday loans, auto title loans and high-cost installment loans …

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Pandemic has left millions of livelihoods in limbo: NPR

More than 10 million people in the United States are out of work, and the hardest-hit industries are also among the lowest-paying, including retail, entertainment, hospitality, and tourism. Sarah Gonzales for NPR hide caption toggle legend Sarah Gonzales for NPR More than 10 million people in the United States are …

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Ohio House Passes Payday Loan Reform Bill

The Ohio House overwhelmingly passed long-awaited payday loan legislation designed to fill loopholes that lenders use to charge high interest rates. Thursday’s vote comes just after the House has elected a new president, and as an FBI investigation continues to investigate activities involving the former president and payday loan lobbyists. …

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Payday loan alternative, Promises faster payment, No fees

Payday lenders can often be compared to loan-sharking. Critics believe these lenders exploit those who are so desperate for cash fast that they end up taking out loans that have absurdly high interest rate. Pew Charitable Trusts 2012 research has shown that the typical payday loan borrower takes out eight small-term loans …

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