CFPB Rule Could Protect Low-Income Households from Predatory Short-Term Lending

CFPB Rule Could Protect Low-Income Households from Predatory Short-Term Lending

Novelist and essayist James Baldwin once had written, “Anyone who may have ever struggled with poverty understands just how excessively high priced it really is become bad.” These terms ring true for people who have actually relied on payday advances to fulfill instant requirements, be it food, lease or resources. A fast loan of a tiny amount of 300 dollars at excessive interest rates can set a family that is low-income the trail of economic stress. Read more