It’s no secret that America’s working families have faced significant financial strain in recent years. For many, a small, short-term loan can provide a critical lifeline to cover an unexpected car repair, medical bill, or other emergency expense. Unfortunately, that lifeline has become increasingly difficult to access, leaving many households with fewer options when they need help most. The irony is that many of the government policies promoted as consumer protections are instead making credit less available, pushing responsible borrowers toward even fewer — and often more costly — alternatives.
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