Loan providers state the proposed guidelines would devastate their industry and cut vulnerable borrowers removed from a economic lifeline.

Loan providers state the proposed guidelines would devastate their industry and cut vulnerable borrowers removed from a economic lifeline.

“several thousand loan providers, specially small enterprises, should be forced to shutter their doors, lay off workers, and then leave communities that curently have not enough choices for monetary solutions,” stated Dennis Shaul, the leader regarding the Community Financial solutions Association of America, a trade group for payday loan providers. Continue reading “Loan providers state the proposed guidelines would devastate their industry and cut vulnerable borrowers removed from a economic lifeline.”