3/26/2015 – Payday Loans – And Endless Cycles of Debt – Targeted by Federal Watchdog (NPR)

For millions of cash-strapped consumers, short-term loans offer the means to cover purchases or pressing needs. But these deals, typically called payday loans, also pack triple-digit interest rates — and critics say that borrowers often end up trapped in a cycle of high-cost debt as a result. Now, the Consumer Financial Protection Bureau (CFPB) is preparing to unveil a framework of proposed rules to regulate payday lenders and other costly forms of credit.

Read the full article at NPR.