Limiting use of loans that are payday do more damage than good

Limiting use of loans that are payday do more damage than good

Professor of Law, Vanderbilt University

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Paige Marta Skiba has received capital from the nationwide Science Foundation, Russell Sage Foundation, Burch Center for Tax Policy and Public Finance, Horowitz Foundation for Social Policy and National Conference of Bankruptcy Judges

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One of many few financial products offered to poor people may quickly evaporate if a fresh guideline proposed June 2 gets into impact.

The customer Financial Protection Bureau (CFPB) announced the guideline because of the purpose of eliminating exactly just what it called “debt traps” brought on by the US$38.5 billion loan market that is payday. Continue reading Limiting use of loans that are payday do more damage than good