Georgia considers pay day loans so dangerous to borrowers that they’re prohibited within state lines. U.S. army officers testified before state lawmakers that the interest that is high short-term paycheck improvements drown sailors and soldiers with debt. The U.S. Consumer Financial Protection Bureau, a federal consumer watchdog agency, planned a crackdown at one point.
Then when a Kennesaw State University research determined that borrowers whom sign up for a lengthy sequence of payday loans fare a lot better than those whom don’t, industry advocates tried it to battle down the prepared crackdown. 继续阅读Pay day loan team paid KSU for favorable research, records show