Pawn to cushion payday lenders from regulatory blow

April 8, 2015 1:22 PM

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Pawn to cushion payday lenders from regulatory blow

(Reuters) - Payday lenders that have substantial pawn operations are better positioned to absorb the blow from proposed U.S. regulations aimed at cracking down on an industry that has been criticized for lumbering borrowers with debt they cannot repay.

The Consumer Financial Protection Bureau has proposed a number of guidelines for the industry, including limiting the number of loans per customer to six per year.

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