Denton Record-Chronicle: Regulators outline rules on short-term loans
March 27, 2015
Federal regulators unveiled a plan Thursday for new rules meant to end the cycle of debt that often comes with payday and title loans.
The Consumer Financial Protection Bureau proposed requiring that lenders operate one of two ways: either make sure the consumer can afford the short-term loan before making it or comply with restrictions that keep the loan’s costs from ballooning and becoming unaffordable.
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