Concerned About Federal Payday Loan Regulations? What Are Your Quick Cash Options?
If you're like many Americans, you occasionally find yourself in need of some quick cash to buy groceries or fill up your car before the next payday. In fact, more than 12 million Americans take advantage of paycheck advance loans or "payday loans" each year. However, the federal Consumer Financial Protection Bureau (CFPB), a federal watchdog group, has recently cracked down on payday lenders by implementing a number of regulations, changing the interest rates, repayment periods, and other loan terms of paycheck advance loans.