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Customers may lose defenses in proposed payday lending changes

Customers may lose defenses in proposed payday lending changes

Customers may lose defenses in proposed payday lending changes The Consumer Financial Protection Bureau is proposing changes to regulations that protect borrowers from being trapped in long-term debt in a major win for the payday lending industry which gives quick loans at exorbitant interest rates. Ken Sweet, Associated Press’ company reporter, joins Hari Sreenivasan to get more. Read the Complete Transcript Hari Sreenivasan: Payday financing. It really is a massive industry that fees excessive interest levels for quick loans —…

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