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Payday loans middletown ct Payday advances Middletown or online cash that is middletown ar

Payday loans middletown ct Payday advances Middletown or online cash that is middletown ar

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Information Launch Research of Payday Complaints Reveals Requirement For More Powerful Federal Protections

Information Launch Research of Payday Complaints Reveals Requirement For More Powerful Federal Protections

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Report: Research of Payday Complaints Reveals Requirement For More Powerful Federal Protections

CONTACT:Mike Litt, U.S. PIRG Education Fund workplace: (202) 461-3830 Cell: (702) 427-1608mlitt@pirg.org

Report: Review of Payday Complaints Reveals Requirement For More Powerful Federal Protections

Washington, D.C. – customer complaints about payday advances to your customer Financial Protection Bureau (CFPB) reveal a critical significance of strengthening the agency’s proposed guideline to rein in payday advances as well as other high-cost financing, based on a written report released today by the U.S. PIRG Education Fund.

“Our analysis of written complaints towards the CFPB discovered significant proof the significant problem with payday advances: borrowers can’t pay for these loans and find yourself caught in a period of financial obligation. Ninety-one(91 that is percent) of written complaints had been linked to unaffordability,” said Mike Litt, Consumer Advocate because of the U.S. PIRG Education Fund.

Some findings that are key