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The CFPB’s long-awaited guideline on pay day loans is a step into the direction that is right

The CFPB’s long-awaited guideline on pay day loans is a step into the direction that is right

Editor’s note: into the lead-up to your CFPB’s guideline statement, the author published a far more in-depth framework for contemplating “non-prime” borrowers that need and employ little dollar loans. That piece can be read by you in complete right here.

On June 2 the customer Financial Protection Bureau (CFPB) circulated a much-anticipated guideline aimed at curtailing the predatory nature of some tiny buck loans, usually called “payday” loans.