U.S. Lenders Evading Rules Change Payday Loans to Installments

U.S. Lenders Evading Rules Change Payday Loans to Installments

Scott Eells/Bloomberg

While consumer groups say installment loans carry the same risks and high annual interest rates that drew regulatory attention to payday lending, companies making the switch have won kudos from shareholders. They’ve also taken encouragement from statements made by agency officials.