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Payday Advances And Endless Cycles Of Debt Targeted By Federal Watchdog

Payday Advances And Endless Cycles Of Debt Targeted By Federal Watchdog

Maranda Brooks appears in January outside a loans that are payday that she used to constant. Troubled by customer complaints and loopholes in state laws and regulations, federal regulators are proposing expansive, first-ever rules on payday lenders, directed at assisting cash-strapped borrowers from dropping into a period of financial obligation. Tony Dejak/AP hide caption

Maranda Brooks appears in January outside a payday advances company that she used to constant. Troubled by customer complaints and loopholes in payday loans in Texas state laws and regulations, federal regulators are proposing expansive, first-ever guidelines on payday lenders, directed at assisting cash-strapped borrowers from falling as a period of financial obligation.