Payday loans low interest. During the 2008 presidential campaign…

Payday loans low interest. During the 2008 presidential campaign…

Throughout the 2008 campaign that is presidential Barack Obama promised to “cap outlandish interest levels on pay day loans also to enhance disclosure” associated with the short-term, high-interest loans. After several years of partisan wrangling, the administration has really accomplished its goal. First, some background. “Payday loans are small-dollar, short-term, short term loans that borrowers promise to repay from their next paycheck or regular earnings repayment,” ...

Continue Reading →