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Based upon its research, outreach, and analysis of available data, the Bureau is proposing to identify such practices with respect to two categories of loans to which the Bureau proposes to apply this rule: Consumer loans that have a duration of 45 days or less; and consumer loans that have a duration of more than 45 days that have a total cost of credit above a certain threshold and that are either secured by the consumer's motor vehicle, as set forth in proposed § 1041.
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This service does not constitute an offer or solicitation for payday loans in Arizona, Arkansas, Colorado, Georgia, Maryland, Massachusetts, New York, Pennsylvania, or West Virginia.
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- You may pay more over time in interest on their loan, but you can still receive approval.
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Within the same day, you will receive SMS notification to inform you of the status of your application.
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Nor would proposed comment 9-2.
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