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State ban on payday loan rollovers called safe from new federal rules

By TED CARTER Mississippi’s ban on payday loan rollovers will stay intact after the U.S. Consumer Financial Protection Bureau enacts a host of new rules on payday lending, the general counsel for the Mississippi Department of Banking and Consumer Finance says. “Our current Check Cashing Act prohibits rollovers and unless those statutes are changed by the Legislature in a future session, ...

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