Pay day loans face brand new challenge: Can borrowers pay for them?

Federal regulators are proposing a clampdown that is significant payday loan providers as well as other providers of high-interest loans, saying borrowers should be protected from methods that ramp up turning out to be “debt traps” for most. Yet some customer advocates s Payday lender in Phoenix on 6, 2016 april. (Picture: Ross D. Franklin, AP) Lenders that offer payday …