The customer Financial Protection Bureau issued rules that are new pay day loans this week.
Customer advocates state the principles may help low-income individuals and families caught in endless cycles of financial obligation.
The industry contends that pay day loans offer a choice for individuals dealing with unexpected costs or economic emergencies. The guidelines could cripple the industry, which collected about $3.6 billion in charge revenue in 2015, based on the CFPB.
This is what you must know about payday advances plus the regulations that are new. Read More