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Seniors constitute a disproportionate number of deposit advance borrowers.

Seniors constitute a disproportionate number of deposit advance borrowers.

Correctly, the proposals would impose more stringent underwriting criteria on deposit advance services and products than on just about any bank item today. In the event that tips are used as proposed, really few customers would meet the requirements also it could be very hard for banking institutions to provide the products. Deposit advance items are hybrid items combining aspects of depository re payments and financing, hence needing brand new and revolutionary types of assessment.