Meanwhile, the payday lending industry continues to rake in cash and rack up wins
It’s a Great Time to Be a Payday Lender
Despite what Dirty cash could have you believe, it is really, very uncommon that that those who profit off the cash advance industry really ever see punishment, in large component because whatever they do is wholly appropriate.
Beneath the somewhat watchful attention for the Federal Trade Commission, payday loan providers have to adhere to the current guidelines. And several of these do; the problem is, and it has been, that people laws that are existing financing practices which may be damaging to borrowers.
The lawsuits filed by the FTC on behalf of consumers have largely centered around “phantom debts,” which are exactly what they sound like in the last several years. Continue reading Meanwhile, the payday lending industry continues to rake in cash and rack up wins
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