Brand New Rules To Ban Payday Lending ‘Debt Traps’

Brand New Rules To Ban Payday Lending ‘Debt Traps’ The buyer Financial Protection Bureau on Thursday is proposing new laws to protect consumers from predatory financing techniques that the CFPB’s top regulator call Americans are being “create to fail” by payday and auto-title loan providers, Richard Cordray, the manager of this customer Financial Protection Bureau, informs NPR. “just how the products are structured, it is rather hard to repay the mortgage, and for that reason people become borrowing over repeatedly and having to pay much more in charges and interest…

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