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A lender collects payment on its covered longer-term installment loans primarily through recurring electronic fund transfers authorized by consumers at consummation; as a matter of lender policy and practice, after a first ACH payment transfer to a consumer's account for the full payment amount is returned for nonsufficient funds, the lender makes a second payment transfer to the account on the following day for $1.
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The fact they have been able to pay these fines shows they are not just scraping by.
I have a quick question I wanted to run by you guys.
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View Cartoon Payday loans — so-called because they typically require a borrower to show a stub from a recent paycheck and to put up their next paycheck as collateral (in the form of a postdated check or debit authorization) — are often derided as "predatory.
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