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Stop the Debt Trap: Protect the customer Financial Protection Bureau’s Cash Advance Rule

Stop the Debt Trap: Protect the customer Financial Protection Bureau’s Cash Advance Rule Payday loan providers’ predatory business design is created on loans that folks cannot manage to repay. Pay day loans are generally 14- or balloon-payment that is 30-day at 391% interest or maybe more. Those who cannot manage to repay the mortgage must re-borrow to fulfill their other costs, engaging in a period of financial obligation. => More than 75percent of pay day loan charges result from individuals stuck...

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