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Federal regulators prepare rules on payday advances WASHINGTON — distressed by consumer complaints and loopholes in state rules, federal regulators are assembling the first-ever guidelines on pay day loans directed at assisting cash-strapped borrowers avoid dropping in to a period of high-rate debt. The buyer Financial Protection Bureau states state laws and regulations regulating the…

Election-Driven Payday Loan Caps Spotlight On-Demand Wage Tech Amid the pandemic, a ceiling on payday loan expands state by state. This week, voters authorized a measure that will cap the prices levied on alleged loans that are payday 36 percent for the state to this end, in Nebraska. The vote and just the restriction, related…

Illinois Enacts Tough Cash Advance Limits as Other States Stall. brand New Mexico’s experience provides a vivid exemplory case of just how legislation can bog down. Illinois has accompanied the growing quantity of states which have reined in high-cost pay day loans, nonetheless it took a various path getting here: the statehouse. Illinois Gov. J.B….

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