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Brand brand New U.S. guideline on payday advances to harm industry, boost banking institutions: agency

Brand brand New U.S. guideline on payday advances to harm industry, boost banking institutions: agency WASHINGTON (Reuters) – Revenues for the $6 billion pay day loan industry will shrivel under a fresh U.S. guideline limiting loan providers’ ability to benefit from high-interest, short-term loans, and far associated with the business could proceed to tiny banking institutions, based on the country’s customer watchdog that is financial. The customer Financial Protection Bureau (CFPB) released a regulation on Thursday needing loan providers to…