The expression of this loan is linked with the consumer’s pay duration at work.

The expression of this loan is linked with the consumer’s pay duration at work.

10. The total level of the consumer’s individual check which will be exchanged for money is made up of (a) the quantity of each gotten because of the client, plus (b) a “cost” and/or “fee” for holding the check, i.e., deferring its presentment. The money gotten by the consumer constitutes the amount that is principal of loan. The fee or charge compensated because of the client to defer presentment for the check comprises interest as that term is employed in Arti- cle 19, В§ 13 of this Arkansas Constitution.

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