Both recommendations would require short term creditors post a notice near to the counter associated with the store declaring:
- Your establishment is actually a temporary money institution rather than a financial, benefit and finance association or credit union;
- The attention rates and prices billed;
- The interest rate equivalent of the attention prices and charge billed per one hundred dollars;
- a computation of levels that could be paid on an initial funding renewed or thrown around after the primary words without any cost of either principal or curiosity each time;
- a warning that defaulting may lead to decrease in land or always garnish wages and checking out and financial savings records;
- An apparent explanation about any state or federal proper to rescind the borrowed funds settlement.