By Dennis Shaul
This will be an archived article that ended up being posted on sltrib.com in 2015, and information into the article can be outdated. It really is supplied just for individual research purposes and may online payday loans even never be reprinted.
Their state of Utah has enacted crucial customer security defenses for borrowers of payday advances, including a necessity that loan providers provide a payment plan that is extended. This interest-free payment choice ended up being codified into legislation during the urging of our trade relationship for individuals who need additional time to settle their loan. These defenses boost the value associated with the pay day loan choice for all customers.
This essential client choice is much like one recommended by my company, the Community Financial solutions Association of America (CFSA), inside our industry-leading mandatory member guidelines.