LONDON (AP) — British authorities have proposed new regulations for payday lenders, the firms that offer short-term loans at sky-high interest rates.
Under restrictions unveiled by the Financial Conduct Authority on Thursday, payday lenders will be required to carry out affordability checks on borrowers and restrict the number of times a loan can be rolled over. The regulator says it will also ban misleading advertisements.
The regulations are set to take effect next year after a consultation process.
The lenders have been criticized for taking advantage of consumers who are suffering in troubled economic times and who often turn to such lenders to buy food or in case of family emergencies.
The archbishop of Canterbury is among those who have expressed concern about such loans and has urged alternatives.
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The Erie County Sheriff's Bomb Squad, ATF, and the Buffalo Police Department were called to Tioga Street near Fairchild Place in North Buffalo just before midnight Thursday.
Eighty-two-year-old Edward Spencer was making a left hand turn while exiting the Budwey's parking lot when he struck 52-year-old Sandra Garner and 55-year-old Kevin Nowak, according to authorities.
An angry mother who claims her daughter was dropped-off miles away from home wants answers.
Deputies say a teen driver fell asleep at the wheel early Thursday morning before crashing head-on with another vehicle.
Police say a Jamestown man was selling crack cocaine out of his barber shop on East Second Street.
City Hall is considering turning to taxpayers to help keep the lights on at the only movie theatre in downtown Buffalo.