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Think There’s No Good Alternative To Payday Loans? Think Again.

Wednesday, June 29, 2016
Mike Calhoun | The Washington Post
Michael Calhoun

The Consumer Financial Protection Bureau’s proposed rule requiring payday and car title lenders to assess borrowers’ ability to repay will, by all projections, reduce the number of these loans being made. The question often comes up: What will those consumers who might have taken out a payday or car title loan do instead?