New pay day loan guidelines: what you ought to understand WASHINGTON D.C., — The customer Financial Protection Bureau issued rules that are new payday advances this week. Customer advocates state the guidelines may help low-income individuals and families caught in endless rounds of debt. The industry contends that pay day loans offer a choice for folks facing unanticipated costs or emergencies that are financial. The guidelines could cripple the industry, which collected about $3.6 billion in charge income in 2015, in accordance with the CFPB. Here’s what you need to learn about payday advances additionally the regulations that are new. Exactly what are pay day loans? Pay day loans are usually between $200 and $1,000 and must certanly be reimbursed […]