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The Bureau also is aware that some online lenders, although structuring their product as nominally a two-week loan, automatically roll over the loan every two weeks unless the consumer takes affirmative action to make full payment.
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The federal securities laws and regulations largely set the contours for investment in both entities engaged in peer-to-peer lending and the loans they extend to borrowers, direct lender payday loans in Monroe.
As discussed in connection with section 1022 of the Dodd-Frank Act below, the Bureau has consulted with other Federal consumer protection and also Federal prudential regulators about these issues.
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