Rising use “is not a signal of satisfaction,” an author of a new report says. Rather, heavy users of the apps are under “financial strain.”
Category: Payday Loans
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What to Know About Online Paycheck Advances and Why They Face Scrutiny
The Consumer Financial Protection Bureau has proposed a rule that would treat the offerings as loans, requiring the providers to disclose their charges as interest rates.
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Wall Street’s Most Hated Regulator Faces an Existential Threat
Rohit Chopra, who leads the Consumer Financial Protection Bureau, says he is simply enforcing the law. Bankers call him reckless — a “regulator gone rogue.”
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Overdraft Fees Are Dwindling, Study Finds
But the share of people paying the fees remains unchanged, and they’re often among the most financial vulnerable.