Regulators prepare guidelines on pay day loans to shield borrowers

Regulators prepare guidelines on pay day loans to shield borrowers WASHINGTON (AP) — Troubled by customer complaints and loopholes in state regulations, federal regulators are piecing together the first-ever guidelines on payday advances directed at assisting cash-strapped borrowers avoid dropping in to a period of high-rate financial obligation. The buyer Financial Protection Bureau states state guidelines regulating the $46 billion…

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