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Predatory Loans And The Ability To Pay Back

(Photo/Taber Andrew Bain, Creative Commons)
(Photo/Taber Andrew Bain, Creative Commons)

In the next few weeks, the federal government’s newly created Consumer Financial Protection Bureau is expected to issue a rule that would require lenders to prove borrowers can pay loans back. The effort is aimed at payday lenders, car-title lenders and other financial institutions considered “predatory.” Michael Pope from Virginia Public Radio reports.

Hear Michael Pope’s full piece on Virginia Public Radio, “New Rules Proposed for Financial Products Considered Predatory Lending.”

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