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This lender is regulated from the Missouri Division of Finance, and also the Illinois Department of Financial and Professional Regulation. Wonga said the stricter affordability checks, the cap imposed with the regulator, and the cost of a rigorous authorisation process from the FCA had all added to its costs. Springcreek Church also plans to offer small, loans to parishioners at four percent interest. Paying a $50 fee to get a loan of $500 over a period of two weeks might not seem that bad in the beginning glance, but that fee overlooks the fact that borrowers take about five to eight months to cover back their loans. Before seeking a loan, check the lending company's Better Business Bureau rating and see whether or not this's licensed within your state, she advises. Your opening sentence undermines your whole argument. For details, questions or concerns relating to your loan please get hold of your lender directly. You also need to look with the loan length, interest charge and APR (interest rate). Watch the most up-to-date NCUA Consumer Protection Update video to learn about important updates and changes that will affect you like a consumer.