Pay day loans charge huge interest but could be ideal for some borrowers in a pinch. The authorities is stepping in with brand brand new guidelines targeted at protecting probably the most vulnerable.

As you of Chicago’s elevated trains clatters overhead, Gilbert Walker strides to the pay day loan shop which will make their last $165 re re re payment for a $600 loan he’d applied for at Christmas time.

The attention price had been high. Mr. Walker, who was simply let go after significantly more than three decades using the Chicago college region, couldn’t keep in mind just exactly exactly how much he’d paid back thus far. Continua a leggere Pay day loans: Can Washington make them less predatory?