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Such changes include limiting a consumer to no more than eight consecutive successful two-week loans; a ban on rollover loans; and an indebtedness limit of $1,000 or 25 percent of gross monthly income, according to a memo circulated to gain co-sponsors for the legislation.
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Accordingly, the Bureau proposes to supplement the basic ability-to-repay determination in certain circumstances where the conditions of a consumer's existing indebtedness with the same lender or its affiliate indicate that the consumer may lack the ability to repay a new covered longer-term loan.
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20 June 2016
ZIP codes near Sallisaw
- 73160, 73110, 73141, 73107, 74145, 73071, 73446, 73505, 74012, 73703, 73132, 74055, 73034, 74137, 73034, 73071, 74834, 74135, 73102, 73020