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The Bureau is proposing to allow electronic delivery because electronic communications may be more convenient than paper communications for some lenders and consumers.
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The cooperating lenders from Personal Money Service Network follow federal regulations and states laws for lending within their borders.
Cash-strapped consumers may have more The Consumer Financial Protection Bureau is proposing new rules to curtail payday lending practices the agency says can lead borrowers into long-term "debt The protections would cover products including payday and other short-term loans, auto-title loans and some high-cost installment loans.
Usually, this means applying for a secured credit card.
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This approach would also lack the protections of the Alternative approach, which provides for mandatory reductions in loan size across a sequence of loans.