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The Bureau solicits comment on whether to permit open-end loans to be made under this conditional exemption; whether lenders would choose to make open-end loans under this conditional exemption if permitted to do so; and what the benefit for consumers would be of permitting such loans and what additional conditions may then be appropriate for proposed § 1041.
The Bureau also solicits comment on whether lender access to any additional information concerning a consumer's borrowing history would further the consumer protections of proposed part 1041 and, if so, the specific potential burdens and costs of requiring such information to be furnished.
It can be collateralized by a combination of eligible accounts receivable and inventory.
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Further, as discussed in Market Concerns—Short-Term Loans, the Bureau has observed that borrowers have a very high probability of winding up in a very long sequence once they have taken out only a few loans in a row.
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ZIP codes near Goshen
- 46229, 46755, 46203, 47802, 46324, 46383, 46112, 46320, 47591, 46563, 47601, 46227, 47129, 46818, 47403, 46052, 46143, 47304, 47265, 46122