New loan that is payday: what you ought to understand many thanks for visiting cnnmoney.

New loan that is payday: what you ought to understand many thanks for visiting cnnmoney.

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The buyer Financial Protection Bureau issued brand new rules on pay day loans this week.

Customer advocates state the guidelines may help low-income individuals and families caught in endless rounds of financial obligation.

The industry contends that payday advances offer a choice for folks 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.

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