In April 2013, the CFPB published a white paper on payday advances and deposit advance items, discovering that “both products

In April 2013, the CFPB published a white paper on payday advances and deposit advance items, discovering that “both products often leads many borrowers into a period of high-cost borrowing over a period that is extended of.” “This,” the CFPB concluded, “raises significant customer security issues about financial obligation traps.” The white paper explained the […]

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