Seniors, experts testify on controversial payday loans

07/29/2013 | Dallas Morning News (free content), The · ABC News

Seniors and experts testified to the Senate Special Committee on Aging last week about high-interest payday loans, which have left many older Americans mired in debt. Congress is considering how to regulate the process, which payday lenders and banks say fulfills a growing need among American consumers by providing short-term loans. Critics argue that the loans trap consumers in debt.

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Dallas Morning News (free content), The · ABC News

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