New Payday Loan Rules: Well-Intentioned With Heavy Baggage

The Consumer Financial Protection Bureau’s (CFPB) payday lending rule goes into effect next week. The rule has two parts: Payday lenders must “reasonably determine” the borrower’s ability to repay the loan. This includes taking the borrower’s credit history and spending habits into account when making a loan. Payday lenders cannot attempt to withdraw payment from … Continue reading New Payday Loan Rules: Well-Intentioned With Heavy Baggage

Our Parents And Grandparents Are Sharing The Struggle With Student Loans

The student loan debt crisis is not exclusive to Gen Y. A new report claims that of the student loans taken out by folks over the age of 60, 40 percent of them are in default. This will turn out to have some serious implications for not only their well-being but for Gen Y’s ability to … Continue reading Our Parents And Grandparents Are Sharing The Struggle With Student Loans