Business
3:33 am
Fri November 22, 2013

Federal Regulators Crack Down On Payday Advances

Originally published on Fri November 22, 2013 4:45 am

Consumer advocates are hailing a decision by federal regulators to crack down on so called deposit advances — a type of payday loan offered by some banks. Going forward, banks will not be allowed to let their customers take deposit advances more than once a month, or take them in consecutive months.