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Posted by on Dec 23, 2020 in | 0 comments

The CFPB Finds Payday and Deposit Advance Loans Can Trap Consumers with debt

Sustained Usage Of Loans Raises Consumer Protection Concerns

WASHINGTON, D.C. —Today, the customer Financial Protection Bureau (CFPB) issued a study on payday and deposit advance loans discovering that for a lot of customers these items cause a period of indebtedness. Free financing standards, high expenses, and loan that is risky may subscribe to the sustained use among these products that can trap borrowers with online installment loans Indiana debt.

The report discovered that payday advances and also the deposit advance loans provided by a tiny but growing quantity of

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