SENIORS, COMMUNITIES OF COLOR MAY BENEFIT FROM SAFEGUARDS IN brand new RULE
Bay area, CA, October 5, 2017— in reaction to brand new pay day loan guidelines released by the customer Financial Protection Bureau today, Paulina Gonzalez, executive manager associated with the Ca Reinvestment Coalition, released the statement that is following
“in Ca, seniors had been the greatest band of borrowers whom utilized payday advances a year ago- an alarming statistic, specially because so many take a fixed earnings that produces paying down these loans very hard. Studies have additionally unearthed that the more these loan providers in a residential area, the even worse the health that is financial for customers staying in that community.
The necessity of this guideline for protecting seniors, communities of color, and all sorts of working families whom use pay day loans can’t be overstated. Continue reading