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Concern within the cash advance debt spiral had been most most likely a motivator when it comes to CFPB to pass through this legislation. The 3rd and addition that is newest to federal authority governing pay day loans may be the customer Financial Protection Bureau’s (“CFPB”) last guideline on “Payday, car Title, and Certain High-Cost Installment Loans,” codified as 12 C.F.R. § 104...
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