Recently, the CFPB or Consumer Financial Protection Bureau, a brand new agency that is independent the Federal Reserve happens to be studying the industry.

Recently, the CFPB or Consumer Financial Protection Bureau, a brand new agency that is independent the Federal Reserve happens to be studying the industry.

We lay out today to discuss payday advances, and particularly discover precisely how bad payday advances are… for both your credit as well as your wallet.

Payday advances are a popular subject on economic internet web web sites and blogs – you’d be challenged to get a website who hasn’t discussed them yet, or at the very least created an opinion – and DQYDJ is not resistant. We’ve written concerning the economics of payday advances, and also talked about the liquidity factors which lead borrowers to take into account them as choices.

Therefore, today, let’s discuss payday advances from as basic a situation even as we can, and appear at several of the most present news into the loan arena that is payday.

(And, when we writers mostly agree totally that payday advances are “bad”, let’s attempt to respond to exactly how bad payday advances actually are.)

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