Dennis Shaul, CEO of this Community Finance Services Association, which represents payday loan providers, concedes that some perform borrowers do enter into difficulty and will be best off with longer-term loans which can be paid back as time passes.

Dennis Shaul, CEO of this Community Finance Services Association, which represents payday loan providers, concedes that some perform borrowers do enter into difficulty and will be best off with longer-term loans which can be paid back as time passes. But he states the CFPB’s guidelines are derived from a misperception of this dangers to customers. […]

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