Why its so hard to regulate payday lenders
lundi 8 août 2016 à 02:00The Consumer Financial Protection Bureau is proposing limits on "payday loans" (short-term loans with high interest rates), but the rules have loopholes which loan companies will use.
Some states have entirely banned these loans, with good effect. Research finds that people who can't get payday loans general reduce their spending instead -- whereas paying the high interest of payday loans would make them reduce their spending a lot more, over time.