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Fri November 22, 2013
Federal Regulators Crack Down On Payday Advances
Originally published on Fri November 22, 2013 3:45 am
Consumer advocates are hailing a decision by federal regulators to crack down on so called deposit advances — a type of payday loan offered by some banks. Going forward, banks will not be allowed to let their customers take deposit advances more than once a month, or take them in consecutive months.