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The allegations came after an investigation triggered by a routine examination of the company's operations as part of the bureau's oversight.
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Two studies have asked payday and vehicle title borrowers about their expectations about how long it takes to repay payday loans, and not reborrow shortly thereafter, and compared their responses with actual repayment behavior of the overall borrower population.
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Kim Cook is executive director of the National College Access Network, which supports nonprofit organizations and schools across the country in their efforts to help more underrepresented and low-income students enter and complete postsecondary education.
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