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  • As discussed further below, the Bureau has observed lenders seeking to collect multiple payments on the same day.
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"If doing so seems impossible, Matthews says seeking input from an impartial financial advisor who can raise red flags and identify future risks.

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Has the right to initiate a transfer of money, through any means, from a consumer's account to satisfy an obligation on a loan, except that the lender or service provider does not obtain a leveraged payment mechanism by initiating a one-time electronic fund transfer immediately after the consumer authorizes the transfer;

The review will look at how high-cost short term lenders treat their customers when they are in difficulty.

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