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  1. #1

    The $46 billion payday lending industry is about to suffer a big blow

    The $46 billion payday lending industry is about to suffer a big blow. The Consumer Financial Protection Bureau's release of new payday lending regulations is imminent. The new rules could crack down on high-fee short-term installment loans, like the kind doled out by car-title and payday lenders, according to the New York Times.

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    http://finance.yahoo.com/news/CFPB-p...192558796.html

    Comments please

  2. #2
    A forum user Reputation points: 2147483647 Sean Cash's Avatar
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    Quote Originally Posted by Levi Lending View Post
    The $46 billion payday lending industry is about to suffer a big blow. The Consumer Financial Protection Bureau's release of new payday lending regulations is imminent. The new rules could crack down on high-fee short-term installment loans, like the kind doled out by car-title and payday lenders, according to the New York Times.

    Click link for full story

    http://finance.yahoo.com/news/CFPB-p...192558796.html

    Comments please
    The legit players or ones that want to play legit have been operating in a state of limbo for the last year or so waiting for the rules to finally be announced.

  3. #3
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    “What their rulemaking will do is say wherever a loan exists, it has to be fair and transparent”

    I want to know what their definition of "Fair" is. I've been in Payday retail locations and their is always a few posters on the wall explaining all of these "legal" rights and fees. It's pretty transparent when you borrow $100 and have to pay back $50 or so on top of it. It is what it is and people still use them. I am curious to see what is going to happen and what leads into it.
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  4. #4
    Thank you for the feedback
    Do you think that any new regulations will every be in the Lenders favor?

  5. #5
    Senior Member Reputation points: 32550 Funder Mark's Avatar
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    Never, because the politicians know that it is the people who vote for them.

  6. #6
    hahaha well said.

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