Payday Loans Leading to Revolving Door of Debt

Short-term “payday” loans, and similar “deposit advance” loans offered by major banks, are trapping many consumers in a “revolving door of debt,” according to a study due to be made public Wednesday by the Consumer Financial Protection Bureau. See the article here:

http://www.philly.com/philly/blogs/consumer/CFPB-Payday-loans-leading-to-revolving-door-of-debt.html?utm_source=April+29+email&utm_campaign=4%2F29%2F13&utm_medium=email