When struck with bills they can’t spend, many Us Us Us Us Americans — including significantly more than a million in Florida — fall straight right right straight back on pay day loans: small-dollar, high-cost payday loans they agree to repay from their next paycheck. But some among these borrowers crank up stuck on a treadmill machine of duplicated loans and mounting costs that departs them further behind economically.
Final autumn the federal customer Financial Protection Bureau issued long-awaited guidelines to split straight straight straight down on predatory methods among payday loan providers. The principles, planned to simply simply just just just just take impact in August 2019, would need those loan providers to ascertain upfront whether borrowers are able to repay their loans and costs once they come due. (więcej…)