 TITLE: How Will Payday Loan Changes Affect Me? CONTENT: How Proposed Payday Loan Rule Changes Could Affect You\n------------------------------------------------------\nNow that the CFPB has proposed a rollback of certain parts of its 2017 payday loan rule, here's a look at how the new changes could affect you if you need to apply for a payday loan in the future.\n*   **Access to payday loans could be easier.** If you need a payday loan to make ends meet, you might have an easier time qualifying for one under the proposed changes.\n*   **Wider payday loan access could present more risk.** The CFPB rule rollback means there will be less federal oversight of payday lenders. Namely, you won't have to pass a full-payment test to determine upfront whether you can afford to repay a payday loan without re-borrowing. This means that you need to be extra careful to protect yourself if you take out a payday loan; otherwise, you could get caught in a debt trap with a loan you can't afford to pay off. END