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The CFPB’s new rule is aimed at helping borrowers avoid debt spirals

Sidewire Jonathan Allen: Welcome David Rothstein, chairman of the Coalition for Safe Loan Alternatives, David Reiling, CEO of Sunrise Banks, and Doug Farry, cofounder and executive vice president for Employee Loan Solutions. David R. can you explain the need for the rule? Doug Farry: I’ll chime in. The CFPB, and other organizations, have found that payday loans

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Recovering payday loan borrower gives thanks for Exodus Lending

Star Tribune Tyren McGruder, a working-class single dad, has emerged from the debt trap of payday loans thanks to Holy Trinity Lutheran Church. Church members decided to do something in 2012 when a couple of payday lenders moved into their East Lake Street neighborhood. “Holy Trinity always has been very social-justice and community-oriented,” said Phil

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