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Yes, youve now got $10,000 in defaulted loans rather than $5,000.
The agency, created by the 2010 financial reform law, has complained that the short-term loans -- typically two-week advances on a paycheck -- can trap borrowers in a cycle of debt.
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They also found that $774,300 in cash had been stolen from one division's vault.
Originators typically also pay their commercial bank or payment processor fees for returned ACH and check payments.
But if the price of the bond when it is traded on the secondary market goes down to say $500, that $100 coupon payment is now 20 per cent.