Just one state changed its rules regarding minimum or optimum loan term: Virginia raised its minimal loan term from 1 week to 2 times the size of the debtor’s pay period. Presuming a pay that is standard of fourteen days, this raises the effective restriction by about 21 days. The column that is third of 5 quotes that loan size in Virginia increased almost 20 days an average of as an effect, suggesting that the alteration was binding. Continuar lendo The pooled regressions found that minimal loan terms affect loan size, while the law-change results help that.