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Tag Archives: “cooling off”

Federal White Paper sets stage for payday lending deposit curbs

Mississippi Department of Banking & Finance expects cooling off period, caps on number of loans An analysis of payday lending by the U.S. Consumer Financial Protection Bureau may be a prelude to establishing a “cooling off” period between loans taken out by chronic borrowers. The move could have a huge impact in Mississippi, where approximately 1,000 payday lending outlets do ...

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