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CFPB’s New Rule

Written by Heidi Kurniawan, Policy Intern In Michigan, there are more payday loan stores than there are McDonald’s and Tim Horton’s franchises combined. Advertisements for these loans make them seem like a fast and easy way to get cash when you’re in a financial bind. What they don’t tell you, however, is that four out...

July 12, 2016July 12, 2016by
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Market Alternative to Payday Lending: It’s Working in Texas

“Once payday lenders in Texas get a hook on you, the system is designed so that you can never get out of it. Other states have rate caps. We have nothing. It is very much the wild west. For a 14 day $500 loan, the fees in Texas are $115, two times what it is in...