By ANNIE MILLERBERND of NerdWallet, Associated Press 29, 2020 – 8:55 AM july

When it comes to scores of People in the us who find it difficult to pay for an urgent cost, high-interest payday and online loans might appear like acceptable choices regardless of the risk that is inherent.

But guidance given by federal regulators within the springtime could bring a competitor to lending that is small-dollar banking institutions. The guidance omits a past recommendation from the Federal Deposit Insurance Corp. That loans from banking institutions need to have yearly portion prices of 36% or reduced. (more…)