brand brand New U.S. guideline on payday advances to harm industry, boost banking institutions: agency

WASHINGTON (Reuters) – profits when it comes to $6 billion pay day loan industry will shrivel under a fresh U.S. guideline limiting loan providers’ ability to benefit from high-interest, short-term loans, and far associated with the company could relocate to tiny banking institutions, in line with the country’s customer watchdog that is financial. The buyer

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