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Small-Dollar Loan Proposed Rule FAQs. Director Richard Cordray says that the proposed guideline was created to end “payday debt traps,” where “borrowers looking for a cash that is short-term are saddled with loans they can’t pay for and sink into long-lasting financial obligation.”

by | Mar 17, 2021 | instant payday loans

Small-Dollar Loan Proposed Rule FAQs. Director Richard Cordray says that the proposed guideline was created to end “payday debt traps,” where “borrowers looking for a cash that is short-term are saddled with loans they can’t pay for and sink...