By the time your child gets a job, they should know to avoid these traps.
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In 2017, poverty is big business.
The measure "would have been a travesty" for consumers, an advocate said.
Payday lenders give customers short-term cash advances, typically for two weeks, against their paycheck or Social Security
But it's unclear who's behind them.
If the product was working correctly, people would take out a loan and pay it back within the loan timeframe, which is typically
The Consumer Financial Protection Bureau's (CFPB) proposed rule on short term credit unveiled last month has spurred much debate. While the Bureau says it wants to protect consumers, I'm concerned that the rule will have the exact opposite impact, eliminating credit for millions of Americans and making many worse off. What's more, minority communities who are unbanked or underbanked will be disproportionally impacted.
We know that payday lenders are predatory, disproportionately choosing to set up shop in communities of color. We know that Latinos are more likely than the general population to use a payday loan.
In this time of partisan gridlock, it's rare to see a federal policy move than can be of real help to small businesses and
A borrower taking out a $500 loan could still pay over 300 percent in annual interest, despite new rules designed to crack
It will get harder to trap people in unaffordable debt.