Brand brand New U.S. guideline on payday advances to harm industry, boost banking institutions: agency

WASHINGTON (Reuters) – profits when it comes to $6 billion navigate to this site pay day loan industry will shrivel under an innovative new U.S. guideline limiting loan providers’ ability to benefit from high-interest, short-term loans, and far of this company could relocate to little banking institutions, based on the country’s customer economic watchdog.

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