Studies question value of anticipated CFPB cash advance limitations

Studies question value of anticipated CFPB cash advance limitations

The CFPB’s payday loan rulemaking ended up being the topic of a NY instances article the 2009 Sunday that has gotten considerable attention. In line with the article, the CFPB will “soon release” its proposition that will be anticipated to consist of an ability-to-repay requirement and restrictions on rollovers.

Two present studies cast severe question on the explanation typically provided by customer advocates for an ability-to-repay requirement and rollover restrictions—namely, that sustained utilization of pay day loans adversely impacts borrowers and borrowers are harmed once they neglect to repay installment loans online Texas an online payday loan. (more…)

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