After long delay, brand brand new agency occupies part overseeing payday advances Throughout the 2008 presidential campaign, Barack Obama promised to “cap outlandish rates of interest on payday advances also to enhance disclosure” associated with short-term, high-interest loans. After many years of partisan wrangling, the management has really accomplished its objective. First, some history. “Payday loans are small-dollar, short-term, short term loans that borrowers vow to settle from their next paycheck…