Ads promise cash by means of pay day loans at an Advance America storefront in Springfield, Va. The buyer Financial Protection Bureau is trying to rescind a proposed guideline to shield borrowers from payday loan providers. Daniella Cheslow/NPR hide caption
Ads promise cash by means of payday advances at an Advance America storefront in Springfield, Va. The buyer Financial Protection Bureau is wanting to rescind a proposed rule to guard borrowers from payday loan providers.
During a current meal hour in Springfield, Va., a medical associate called Angela stepped right into a branch of Advance America at a strip shopping mall and asked for a financial loan. She’d borrow $300 and guarantee to pay for it right straight straight back within thirty days, with one more $73 in interest and costs.
This loan would help protect a family group visit to ny, stated Angela, whom asked NPR never to utilize her name that is last for reasons. Read more “Relocate To Pull Customer Protection Rule Heightens Debate Over Payday Lending”