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Pew report: Lenders move to payday installment loans
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Consumer Protection
Tuesday, August 16, 2016
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A new report from Pew Charitable Trusts cites a nationwide trend of payday lenders moving from traditional payday loans, repayable in one lump sum after their term has ended, to high-interest installment loans. The transition brings new concerns and potential consumer harm to the industry, even with new federal regulations at a proposal stage. Read on for more details.
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