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Pay day loans face brand new challenge: Can borrowers pay for them?

Pay day loans face brand new challenge: Can borrowers pay for them?

Federal regulators are proposing a clampdown that is significant payday loan providers as well as other providers of high-interest loans, saying borrowers should be protected from methods that ramp up turning out to be “debt traps” for most. Yet some customer advocates s

Payday lender in Phoenix on 6, 2016 april. (Picture: Ross D. Franklin, AP)

Lenders that offer payday advances along with other tiny improvements to cash-strapped customers must first see whether the borrowers are able to repay your debt under a long-awaited rule that is federal Thursday.

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