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The pay day loan industry faces imminent extinction.

The pay day loan industry faces imminent extinction <a href="">indylend loans payment plan</a>.

With what is apparently the next period of process Choke Point — first reported right right here, as well as here — the Department of Justice appears to be pressuring banks to shut down payday financing depository accounts. They are records lenders used to transact business that is daily.

Procedure Choke aim — a monetary work combining the DoJ, Federal Trade Commission and Federal Deposit Insurance Corporation — seemed initially built to shut down online lending by prohibiting re payment processors from handling online deals.