Experts associated with the Consumer Financial Protection Bureau’s proposals to rein in pay day loans argue that onerous needs could force numerous loan providers to power down, leaving cash-strapped Us citizens with few alternatives for short-term credit. You payday advances frequently leave low-income borrowers in worse straits.
Through the nonprofit advocacy group Reinvestment to my work Partners, I start to see the problems dealing with lower-income customers firsthand. Our agency provides tax that is free solutions and pre-purchase homeownership counseling and negotiates loan adjustments on borrowers’ behalf. Read more