Cash Advance Reform Won’t Kill Short-Term Credit — Simply Make It Safer

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