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RISK Alert: Internet Payday Lenders

Thu, Dec 5, 2013

Columbia, Maryland

THIS IS THE FOURTH ALERT IN A FOUR-PART SERIES ON RISKS ASSOCIATED WITH BUSINESS ACCOUNTS

Payday lenders have taken their services online allowing them to make loans to consumers in several states, including states that prohibit payday lending. State and federal regulators are not only cracking down on Internet payday lenders, but are also putting pressure on the financial institutions that process their ACH transactions.

 

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