Our study provides clear proof of the potential risks automobile title loans pose for customers

“Our research provides evidence that is clear of risks car name loans pose for customers,” Cordray said in a declaration. “Instead of repaying a single payment to their loan if it is due, many borrowers wind up mired with debt for some of the season. The security damage is specially serious for borrowers that have their car seized, costing them access that is ready their task or even the doctor’s workplace.”

The newly released report examines almost 3.5 million payment that is single name loan documents from nonbank loan providers from 2010 through 2013. 続きを読む