(e) Incentive allocations to assistance enterprise enterprises owned and managed by socially and economically disadvantaged people
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But some shopper advocates take into account them thinly veiled payday lenders, because equally provide smaller-greenback loans due with your up coming payday.
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(E) involves an arrangement with the Condition to deliver on the Secretary, and update each year, a agenda describing how the State intends to apportion among its Point out courses the Federal funds allotted for the State.
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(II) the loan won't be accustomed to finance these business enterprise actions because the Secretary, here by regulation, could proscribe as prohibited loan needs for enrollment in an accepted State money entry method; and
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In the event the Secretary approves municipalities being taking part municipalities beneath this subsection, the Secretary shall take into account the extra considerations in portion 5705(d) of this title in building the resolve beneath area 5704 or 5705 of the title which the Condition method or systems to generally be carried out because of the collaborating municipalities, like a Condition capital obtain application, is qualified for Federal contributions to, or to the account of, the State application.
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(three) gives for contributions for being made by the State to your reserve fund in quantities at the very least equivalent to the sum of the quantity of the insurance policies premium fees compensated from the borrower along with the economical institution for the reserve fund for almost any newly enrolled loan; and
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