The average payday loan carries an annual percentage rate (APR) of 391 percent. Are you or someone you know affected by these often debilitating fees? The Consumer Financial Protection Bureau (CFPB) has proposed new rules that would reign in many of the most egregious abuses of payday lenders and car title loan businesses. This long awaited effort follows on the efforts of many states to bring order to the nearly unregulated small lender marketplace.
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