A “safer” payday loan sounds like an oxymoron. Critics have branded these notoriously high-cost loans as debt traps that cause borrowers to go ever deeper in the hole. Thanks to a recent regulatory change, it now may be possible for banks to offer small, short-term loans that could be a lot less dangerous for borrowers.... More From NerdWallet 3 Steps to Get Out of Debt How to Build Credit What Debt Collectors Can and Can't Do Liz Weston is a writer at NerdWallet.
Topics: personal finance
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