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Battle over cash advance industry starts. Obama pushes payday financing guidelines in Alabama

Battle over cash <a href="https://installment-loans.org/installment-loans-sc/">https://installment-loans.org/installment-loans-sc/</a> advance industry starts. Obama pushes payday financing guidelines in Alabama

Federal regulators are proposing an important clampdown on payday lenders as well as other providers of high-interest loans, saying borrowers have to be protected from methods that find yourself changing into “debt traps” for a lot of. Yet some customer advocates s

File picture from 2010 programs cash advance companies, some available twenty-four hours a day, in Phoenix, Arizona. (Picture: Ross D. Franklin, AP)

Battling over a proposed rule that is new payday advances began Thursday, with supporters saying it can protect needy borrowers and opponents warning it could cut usage of credit and threatening a lawsuit.

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