a loan provider would need to figure out the consumer’s abipty to settle before you make a loan that is short-term.

Account access triggering coverage for longer-term loans would come with a post-dated check, an ACH authorization, a remotely produced check (RCC) authorization, an authorization to debit a prepaid credit card account, the right of setoff or even to sweep funds from the consumer’s account, and payroll deductions. a loan provider could be considered to own[…]