Rolling over borrowers: preventing exorbitant refinancing as well as other necessary alterations in the cash advance industry

Rolling over borrowers: preventing exorbitant refinancing as well as other necessary alterations in the cash advance industry Principal content In 1993, W. Allan Jones started making tiny, short-term loans in return for a check that is postdated for the combined value associated with the loan and something charge. (1) This practice had not been seen for over half of a century, when “salary lenders” provided short-term loans for little amounts in return for the next paycheck. (2) In 1999, simply six years after Mr. Jones resurrected the payment that is…

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