MONEYLINE

NEW RESTRAINTS COMING FOR PAYDAY LOANS

Lenders that offer payday loans and other small advances to cash-strapped consumers must first determine if the borrowers can afford to repay the debt under a long-awaited federal rule finalized Thursday. The rule, adopted by the Consumer Financial Protection Bureau, also would curtail repeated attempts by the lenders to debit payments from borrowers’ bank accounts, a practice that racks up mounting fees and can trigger account closures. The rule will take effect in about 21 months.

U.S. FACTORY ORDERS INCREASE 1.2% IN AUGUST

Orders at U.S. factories increased by 1.2% in August, driven by strong gains in aluminum and other metals, industrial machinery and autos. The solid showing follows a steep drop of 3.3% in July, the Commerce Department said Thursday. Recent hurricanes didn’t affect the data, the department said.