Apr 16

2 min read

Report Reveals How Payday Lenders Trap Borrowers in Cycle of Debt

Consumer Bureau says payday loan industry uses deception to drive reborrowing

A report from the Consumer Financial Protection Bureau (CFPB) reveals that payday lenders engage in deceptive tactics in order to trap borrowers in a cycle of costly reborrowing.

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Writer and policy advocate living in Nashville, TN —Public Policy Ph.D. — writes on education policy, consumer affairs, and more . . .

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Report Reveals How Payday Lenders Trap Borrowers in Cycle of Debt

Consumer Bureau says payday loan industry uses deception to drive reborrowing

More from Andy Spears

Recommended from Medium

7 Secrets of Money Only Rich People Know

Elon Musk Vs. Warren Buffett: Who Is Right?

I’m paying my bills ontime, but with borrowed money.

California Tax Lawyer

Enrich your financial life & get connected with C-Link

A Simple View of Two Foundations of Financial Independence

How to Build Wealth in 5 Easy Steps

How to recession-proof your finances

Get the Medium app

Andy Spears

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