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Because greater than 30 calendar days had elapsed since Loan X was repaid, the lender generally would not need to consider Loan X as the prior covered short-term loan when determining whether Loan Z is permissible under § 1041, top online payday loans in Alabama.
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Lenders that do not already have a records system in place would need to incur a one-time cost of developing such a system, which may require investment in information technology hardware and/or software.
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- Private investors are subjected to very few regulations, so you should make sure your legal interests are protected.
- Some companies exploit ties with tribes to avoid federal regulation, consumer advocates say.
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