The long-awaited proposition could basically replace the loan industry that is small-dollar.

Texas Appleseed discovered that as the overall profits associated with loan that is short-term have actually declined somewhat in the past few years, the structure of these profits changed markedly.

A federal regulator granted latest guidelines today which could basically transform the $38.5 billion small-dollar loan business, that has been already put straight back on their heels by restrictive ordinances in a large number of Texas towns and towns. Continue reading →