Texas payday loan providers face tougher criteria with new federal guidelines

Texas payday loan providers face tougher criteria with new federal guidelines

Payday advances have speedyloan.net/title-loans-ct/ now been criticized as being a debt trap for center and low-income Texans. With new guidelines through the customer Financial Protection Bureau, borrowers might be armed with brand brand new defenses.

Gordon Martinez looked to a storefront payday loan provider a lot more than a decade ago and took down a loan of $1,200. The teacher that is former simply relocated to Dallas to start out a job in product product sales and had been struggling in order to make their lease. However with high charges, their financial obligation ballooned to about $3,500 in just a matter of months. Continue reading “Texas payday loan providers face tougher criteria with new federal guidelines”