The Pay-Day Loan industry, a sub-prime lending mechanism which has pushed many low income users into a debt trap, has become the focus of federal regulatory rulemaking and state attorney general oversight.
- FTC Payday Loans Consumer Information
- Legal Status of Payday Loans by State
- New York AG Brochure on Pay Day Loans
- Press Release, Consumer Financial Protection Bureau, We’ve proposed a rule to protect consumers from payday debt traps (June 2, 2016).
- State Attorneys General Comments on CFPB Proposed Rules (Oct. 7, 2016).