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payday loans

Payday loan providers are asking for more options and extended repayments. They argue it will give borrowers more flexibility but opponents say it’s a trap for low-income borrowers. 

Aliman Senai / Wikimedia Commons

Florida could ease some of the restrictions now in place for so-called payday loans.

Florida lawmakers have started moving forward with a proposal to revamp rules for the payday-loan industry, allowing customers to borrow larger amounts of money over longer periods of time.