Pay Day Loans — And Endless Cycles Of Debt — Targeted By Federal Watchdog Maranda Brooks appears in January outside a payday advances company that she used to constant. Troubled by customer complaints and loopholes in state rules, federal regulators are proposing expansive, first-ever guidelines on payday lenders, geared towards assisting cash-strapped borrowers from dropping in to a period of financial obligation. Updated at 4:50 p.m. E.T. For an incredible number of cash-strapped customers, short-term loans provide the methods to…