Battle within the pay day loan industry starts Federal regulators are proposing a significant clampdown on payday loan providers along with other providers of high-interest loans, saying borrowers must be protected from techniques that crank up changing into „debt traps“ for a lot of. Yet some customer advocates s File picture from 2010 shows pay day loan organizations, some available twenty-four hours a day, in Phoenix, Arizona. (Picture: Ross D. Franklin, AP) Battling over a proposed new guideline on payday…