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Consumers protected by the Payday Loan Rule

Answered by: 

Question: 
Who are the consumers the Payday Loan rule is designed to protect?
Answer: 

Consumers who are "living paycheck to paycheck, have little to no access to other credit products, and seek funds to meet recurring or one-time expenses." (from the Summary of the rule in the Federal Register).

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Learn more about John Burnett’s webinar The Payday Lending Rule – Update and status check

First published on 11/08/2020

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