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California businesses regulators were stumbling within effort to find and ban an unlicensed as a type of high-interest consumer credit: payday loans available on websites.
For three ages, the state division of companies was wanting to push these Internet-only people to adhere to equivalent procedures that govern the state-licensed payday loan shop that offer short term, loans of up to $300.
However, many of these websites lenders — with no bodily existence from inside the county and run as tribal entities outside of California — say they’re Indian-owned people, linked to sovereign Indian regions and protected from state rules. Continue reading
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