Payday Loan Rules Would Help Low-Income Families Avoid $8 Billion in Costs

In 2007, then-Professor Elizabeth Warren reminded us that “it is impractical to purchase a toaster which have a chance that is one-in-five of into flames and burning straight down your house.” But {as she noted, it is fairly easy to purchan economic item with the exact same probability of causing monetary ruin—payday and vehicle name loans come with yearly rates of interest of 300 % or...
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