Financial watchdog to gut nearly all of its payday lending guidelines NY (AP) — The nation’s federal economic watchdog stated Wednesday so it plans to abolish almost all of its critical customer defenses regulating payday lenders. The move is really a major victory for the payday financing industry, which argued the government’s laws could kill down a big amount of the company. It’s additionally a big loss for customer teams, whom state payday loan providers exploit the bad and disadvantaged with loans which paydayloans online have yearly rates of interest up to 400 per cent. The foundation of this laws had been a requirement that loan providers be sure borrowers could manage to repay a quick payday loan without having […]