'Legalized loan sharking': payday loan customers recount their experiences

The Consumer Financial Protection Bureau has ordered a review of rules on short-term loans. Three customers say companies lured them into a trapMick Mulvaney, White House budget director and interim director of the Consumer Financial Protection Bureau, recently announced a review of rules on payday loans.Payday loan companies focus on the needy, often operating out of strip malls or corner stores. Interest can be 300%, plus fees. Borrowers often hand over post-dated checks which are cashed if th