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Maranda Br ks appears in January outside a payday advances company that she used to constant.

Maranda Br ks appears in January outside a payday advances company that she used to constant.

Pay Day Loans — And Endless Cycles Of Debt — Targeted By Federal Watchdog

Troubled by customer complaints and l pholes in state legislation, federal regulators are proposing expansive, first-ever guidelines on payday lenders, geared towards assisting cash-strapped borrowers from dropping as a period of financial obligation. Tony Dejak/AP hide caption

Maranda Br ks stands in January outside a payday advances company that she used to constant. Troubled by customer complaints and l pholes in state legislation, federal regulators are proposing expansive, first-ever guidelines on payday lenders, directed at assisting cash-strapped borrowers from dropping right into a cycle of financial obligation.

Updated at 4 50 p.m. E.T.

For an incredible number of cash-strapped customers, short-term loans provide way to protect acquisitions or needs that are pressing.