June 2016

There are more payday loan storefronts in the United States than Starbucks and McDonald's together. Lenders lend to around 10 million people each year - an $89 billion industry. the "free money now!" commercials on talk radio and…

One of the few loan options available to the poor could soon evaporate if a new rule proposed on June 2 takes effect. The Consumer Financial Protection Bureau (CFPB) announced the rule in a bid to eliminate what it called "debt…