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From Payday to Small Installment Loans

Further, nationwide study data reveal that 79 per cent of payday borrowers choose a model just like Colorado’s, by which loans are due in installments that just just just take only a little share of every paycheck. 5 Seventy-five % associated with the public also supports such a requirement. 6 The trend toward payday installment lending is accelerating to get ahead of the CFPB’s regulation and avoid state-level consumer protections, and in response to these consumer preferences. 7...

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