Category Archives: Safe Payday Loans Online

Studies question value of anticipated CFPB cash advance limitations

The CFPB’s payday loan rulemaking ended up being the topic of a NY circumstances article the 2009 Sunday that has gotten considerable attention. Based on the article, the CFPB will “soon release” its proposition that is likely to consist of an ability-to-repay requirement and limitations on rollovers.

Two current studies cast doubt that is serious the explanation typically provided by customer advocates for the ability-to-repay requirement and rollover restrictions—namely, that sustained usage of pay day loans adversely impacts borrowers and borrowers are harmed if they neglect to repay a quick payday loan. Continue reading