Experts associated with the Consumer Financial Protection Bureau’s proposals to rein in pay day loans argue that onerous needs could force numerous loan providers to power down, leaving cash-strapped Us citizens with few alternatives for short-term credit. You payday advances frequently leave low-income borrowers in worse straits.
Through the nonprofit advocacy group Reinvestment to my work Partners, I start to see the problems dealing with lower-income customers firsthand. Continue reading “Cash Advance Reform Won’t Kill Short-Term Credit — Simply Make It Safer”