Payday loan providers make use of customers in need of assistance

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As COVID-19 continues to wreak havoc for the nation, the buyer Financial Protection Bureau (CFPB) recently took an ill-advised and untimely action. On July 7, the agency gutted its very own 2017 payday guideline that needed lenders to first see whether a customer could manage to repay the loan that is high-cost. This regulatory reversal represents an economic opt to …