To protect unsuspecting customers from being mislead into borrowing small amounts of cash and repaying with large amounts added as interest and fees, many governments and financial institutions have developed several laws and regulations that a money lending individual or cash lenders would need to comply. This has been initiated for the benefit of the borrower such that they are not cheated or mislead into paying more than what they borrow. As we all know that no money lending company will own up to the fact that they are cheating you into getting you to pay more than what is required. It is also important for such money lending companies and banks to understand that violation of such terms and conditions is punishable and could involve imprisonment and cash compensations to the complainant if found guilty. Due so such stringy laws being enforced the common man has benefited immensely besides the further increase of genuine money lending organizations.
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