What do the banks have to say about payday loans?

Auto lenders and other lenders are now struggling to make a profit, and consumers are struggling to find alternatives to their loans, which typically carry hefty fees.

The Federal Reserve, however, says payday loans are safe.

Now, the Federal Deposit Insurance Corp. is stepping in to ensure consumers are protected against predatory payday lending practices.

Auto lending is booming, but consumers are facing a problem.

“The problem is that there are a lot of different kinds of lending out there, and they all are getting into the same consumer’s hands,” said Mike DeLuca, FDIC commissioner.

“And then the people who are taking advantage of that are going to be doing a lot more than the people trying to pay their bills.

So there’s a lot to do, and there’s so many different types of loans that are being offered, and it’s all a little confusing.

To help consumers, the FDIC is issuing a Consumer Alert.

The warning, which has a maximum of 10 words, outlines the basic steps consumers can take to protect themselves against predatory lending.

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