NPR News. During a current meal hour in Springfield, Va., a medical associate named Angela wandered into a branch of Advance America at a strip shopping mall and asked for a financial loan.
Relocate To Pull Customer Protection Rule Heightens Debate Over Payday Lending
She’d borrow $300 and promise to pay for it right back within thirty days, with extra interest and charges. A rule under then President Barack Obama would make it harder for Angela to obtain her cash advance. Underneath the proposed guideline, which would not simply take impact, loan providers will have to determine that borrowers could manage to repay their loans. (viac…)