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Texas Fair Lending Alliance worries about rollback of cash advance guideline

Texas Fair Lending Alliance worries about rollback of cash advance guideline

The Bureau worries the guideline, planned to get into impact this August, would “reduce use of credit and competition in states which have determined it stated in a release on the agency’s website that it is in their residents’ interests to be able to use such products, subject to state-law limitations.

Baddour said it might trigger negative impacts on Texans who borrow and stated their state does not provide protection that is much borrowers either. (more…)