by Christian Whittle | Oct 23, 2017 | Mercatus Center Publications
The Consumer Financial Protection Bureau (CFPB) released a new rule focusing on alleged “debt traps” caused by payday loans. It is hard to know exactly what is in this 1,590-page rule, but it includes a “Full Payment Test” requiring lenders to “determine whether the...
by Christian Whittle | Oct 12, 2017 | Mercatus Center Publications
Many Americans today live paycheck to paycheck and use credit to pay unexpected bills or to cover normal bills in the event of an unplanned income disruption. The availability of consumer credit is limited and shaped through ongoing legislative and regulatory action....