Neon signs illuminate a cash advance company. Pay day loan borrowers usually roll over their loans and find yourself paying more in fees than they borrowed, the customer Financial Protection Bureau warns in a study out Tuesday. (Picture: Ross D. Franklin AP)

Borrowers of high-interest payday advances usually fork out more in charges than they borrow, federal government watchdog states.

About 62% of all of the payday loans are created to individuals who increase the loans a lot of times they wind up having to pay more in fees compared to the initial quantity they borrowed, claims a written report released Tuesday because of the customer Financial Protection Bureau, a federal agency. Read More