Payday lenders faced tough new rules before Trump took office

Source: David Lazarus, Los Angeles Times (Paid Registration)

Something very important, affecting millions of consumers, won’t happen Monday.

Today is when new protections from abusive payday and car-title lenders were set to take effect, requiring the firms to make sure borrowers can pay back their obligations in a reasonable amount of time and don’t become mired in debt .

However, the Trump administration is delaying this perfectly reasonable safeguard for another 15 months, and already has declared its intention to do away with the rules entirely amid concern they’re too troublesome for lenders.

Read Full Article: Payday lenders faced tough new rules before Trump took office

 

Tags/Keywords

 

Search

Quick Menu

Facebook FTwitter T
 

Consumer Help Desk

Advocacy