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The buyer Financial Protection Bureau issued rules that are new pay day loans this week.

Customer advocates state the guidelines can help people that are low-income families caught in endless cycles of financial obligation.

The industry contends that payday advances offer a choice for individuals dealing with unforeseen costs or economic emergencies. The guidelines could cripple the industry, which collected about $3.6 billion in cost income in 2015, based on the CFPB. Clic para leer más— »