NEW YORK — the country’s federal watchdog that is financial Wednesday so it intends to abolish almost all of its critical customer defenses regulating payday lenders.
The move is just a major win for the payday financing industry, which argued the us government’s laws could destroy down a big amount of its company. It is also a loss that is big customer teams, whom state payday loan providers exploit the poor and disadvantaged with loans which have yearly interest levels up to 400 %. [Read more...]