Cash Advance Payday Loans in Farmington, Missouri
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Indeed, Congress has recognized that such authorizations can give lenders a special kind of leverage over borrowers, for instance by prohibiting in the Electronic Fund Transfer Act the conditioning of credit on the consumer granting authorizations for a series of recurring electronic transfers over time.
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It may also attract additional borrowers, who may be of lower risk than the lenders' current borrowers, and may also reduce the credit risk posed by existing borrowers taking out loans as they are currently structured.
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