Without a doubt about Consumer bureau scraps cash advance guidelines

Without a doubt about Consumer bureau scraps cash advance guidelines

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The customer Financial Protection Bureau on Tuesday formally rescinded an agenda to impose new limitations on payday financing, handing the industry a victory that is major killing down tighter guidelines so it invested years lobbying to overturn.

The proposed guidelines might have been initial significant federal laws on a business that produces $30 billion per year in high-interest, short-term loans, frequently to borrowers that are already struggling.