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The FCA regulation calls for loan companies to tell the borrower the precise repayment schedule of the loan.
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- Lenders also require you to have a regular source of income.
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Traditional installment lenders require borrowers to submit a detailed credit application.
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After a lender's second consecutive payment transfer has failed as specified in paragraph of this section, the lender may initiate a payment transfer from the consumer's account without obtaining the consumer's authorization for additional payment transfers pursuant to paragraph (c) of this section if.