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The latest on the Key Bridge collapse, New York puts forth legislation to get clean energy projects on the grid and Wisconsin and other states join a federal summer food program to help feed kids across the country.

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Republicans float conspiracy theories on the collapse of Baltimore's Key Bridge, South Carolina's congressional elections will use a map ruled unconstitutional, and the Senate schedules an impeachment trial for Homeland Secretary Mayorkas.

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Historic wildfires could create housing and health issues for rural Texans, a Kentucky program helps prison parolees start a new life, and descendants of Nicodemus, Kansas celebrate the Black settlers who journeyed across the 1870s plains seeking self-governance.

Feds Issue New Rule to Curb Payday Lending Abuses

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Friday, October 6, 2017   

PHOENIX – Consumer advocates are praising a new rule issued on Thursday by the Consumer Financial Protection Bureau. It requires payday lenders to start requires payday lenders to start verifying a borrower's ability to repay before rolling it over into a new loan.

The rule aims to prevent a situation where desperate people borrow more money just to repay prior loans, and get hit with fees that often exceed the amount of the original loan.

Diane Standaert, director of state policy at the Center for Responsible Lending, says this rule will curb some serious industry abuses.

"We know that the debt trap of repeat re-lending is the core of the payday lender and car-title lender business model," she says. "So, that's why this rule is a significant step forward in stopping the debt trap of unaffordable payday loans."

The new rule goes into effect in July 2019. It requires payday lenders to verify specifically that the person will be able to repay the loan and still cover living expenses and major financial obligations.

Payday loan industry supporters argue that this type of short-term loan offers credit and flexibility to people in financial distress.

In 2008, Arizonans approved a ballot measure that capped payday-loan interest rates at 36 percent - but Standaert says interest rates on car title loans weren't affected, so too many low-income families still end up having their vehicles repossessed.

"Unfortunately, Arizona still allows car-title loans at rates over 200 percent," she laments. "So, the legislature should move forward to cap the cost of car title loans while the CFPB rule may provide some relief around the unaffordable nature of those loans."

Conservatives in Congress are expected to try to repeal the rule using the Congressional Review Act before it even goes into effect. And in 2018, President Trump will get the chance to nominate a new head of the CFPB. Its current director, Richard Cordray, is a holdover from the Obama administration whose term ends next summer.


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The U.S. Supreme Court heard arguments this week about the popular abortion pill Mifepristone and will weigh in on whether the U.S. Food and Drug Administration was correct in how it can be dosed and prescribed. (Ascannio/Adobe Stock)

Health and Wellness

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Missouri residents are worried about future access to birth control. The latest survey from The Right Time, an initiative based in Missouri…


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Wisconsin children from low-income families are now on track to get nutritious foods over the summer. Federal officials have approved the Badger …

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Almost 2,900 people are unsheltered on any given night in the Beehive State. Gov. Spencer Cox is celebrating signing nine bills he says are geared …


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New York's Legislature is considering a bill to get clean-energy projects connected to the grid faster. It's called the RAPID Act, for "Renewable …

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