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Feds Crack Down on Payday Advances

Feds Crack Down on Payday Advances

New guidelines need lenders to ensure borrowers are able to afford the high-interest loans

Brand brand New requirements that are federal set up to guard borrowers against payday advances that carry excessive interest levels.

The customer Financial Protection Bureau is cracking down on pay day loans in a dollar financial group loans online move that may protect scores of seniors as well as other customers from being charged interest that is exorbitant and charges on short-term loans that usually develop into long-lasting financial obligation.