Time and Money: One State's Regulation of Check-Based Loans
25 Pages Posted: 23 Feb 2010 Last revised: 10 May 2010
Date Written: 2000
This article, which is part narrative and part essay, describes one professors experience working on “check cashing” (or “check-based loans”) cases at the Appalachian Research and Defense Fund in eastern Kentucky. Parts I and II describe the typical check-based loan transaction and its effects on low-income consumers. Part III recounts how the law of check-based loans has developed in Kentucky, during the professor’s time there and since. Part IV sets forth some observations about language and legal process, suggested by the preceding narrative.
Keywords: check based loans, check cashing, short-term loan, Truth in Lending Act, TILA, Racketeering Influenced and Corrupt Organizations, RICO
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