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payday loans in houma la

A Public Option To Pay Day Loans

A Public Option To Pay Day Loans

Publicly lending that is funded can provide low-interest, short-term loans in ways no private loan provider can or will.

The Consumer Financial Protection Bureau announced plans to rescind a rule requiring payday loan lenders to accurately assess whether borrowers can repay them in early February. The Obama-era regulation had been designed to curtail a number of the short-term loan industry’s notoriously predatory methods.

In the past few years, the once-niche industry has exploded as a $46 billion behemoth with an increase of than 20,000 loan providers.