News : Financial Readiness

CFPB: 80% of payday loans renewed or followed by more loans More than 80% of short-term loans taken

Wednesday, March 26, 2014  
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CFPB: 80% of payday loans renewed or followed by more loans

More than 80% of short-term loans taken out at payday lenders are rolled over or followed within two-weeks by another loan, according to a new Consumer Financial Protection Bureau report. More


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