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In the past year, the average Florida payday loan had Richard Cordray, head of the Consumer Financial Protection Bureau, disputed Ross’ description of Florida’s law as the "gold In Florida, "these loans are still being made above the 300 percent, and they are being rolled over on average nine times," Cordray said.
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In line with Australian government regulations, you can not renew or roll over your payday loan.
Hopefully, politicians will get their act together and close that hole (Although, if we're going to start talking about failures of our political system, that's a whole other conversation.
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