Gutting Payday Loan Rules Will Harm Vulnerable Families

Expand Gutting payday loan rules will harm vulnerable families © Seth Anderson/Flickr Proposed plans to get rid of rules designed to protect largely low-income consumers from abusive high-interest loans risk the well-being of some of America’s most vulnerable households. The United States Consumer Financial Protection Bureau recently announced the proposal to rescind rules that would have meant payday and auto-title lenders had to make sure that customers could repay loans under the terms of the contract. Loans not meeting this requirement would be considered unfair and abusive. When people…

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