You turn to us for voices you won't hear anywhere else.

Sign up for Democracy Now!'s Daily Digest to get our latest headlines and stories delivered to your inbox every day.

Regulators to Unveil New Rules on Payday Lenders

HeadlineJun 02, 2016

Federal regulators are poised to unveil new rules to rein in payday lending. Payday lenders supply cash to low-income people who borrow against their future paychecks at high interest rates, often becoming trapped in a cycle of mounting debt. Among other measures, the new rules would require lenders to ensure borrowers can actually afford to repay the loans. Democratic National Committee Chair Debbie Wasserman Schultz has sparked protests for backing bipartisan legislation to delay the new rules for two years.

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to democracynow.org. Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation
Top