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USA Conversation

The Conversation USA

The Conversation USA

Limiting access to payday loans may do more harm than good

  • Written by The Conversation Contributor
imageIs the end nigh?Payday loans via www.shutterstock.com

One of the few lending options available to the poor may soon evaporate if a new rule proposed June 2 goes into effect.

The Consumer Financial Protection Bureau (CFPB) announced the rule with the aim of eliminating what it called “debt traps” caused by the US$38.5 billion payday loan...

Read more: Limiting access to payday loans may do more harm than good

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