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The Bureau seeks comment on this provision for smaller amounts.
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During the SBREFA process, the SERs expressed concern about the costs associated with furnishing information to commercially available consumer reporting agencies, and the Small Business Review Panel Report recommended that the Bureau consider streamlining the requirements related to furnishing information about the use of covered loans, including ways to standardize data to be furnished pursuant to the proposal.
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As with any public comment, public comments regarding payday lending practices should be discussed appropriately in a financial institution's CRA Public Truth in Lending Act/ Regulation Z, top online payday loans
You can try talking them out of it, but whether or not they back off will hinge on the quality of your other collateral and your overall financial strength.
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