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Why loan providers are getting off lump-sum items

Why loan providers are getting off lump-sum items

The trend among payday and automobile title loan providers toward providing installment loans will be driven by three facets: consumer choice, regulatory stress, and lenders’ work in order to avoid consumer defenses put in place for lump-sum payment loans. Customer preference Pew’s studies have shown that, in contrast to the standard lump-sum model, pay day […]

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