The pooled regressions found that minimal loan terms affect loan size, and also the results that are law-change that.
The pooled regressions found that minimal loan terms affect loan size, and also the results that are law-change that. Only 1 state changed its regulations regarding minimum or optimum loan term: Virginia raised its minimal loan term from 1 week to 2 times the length of the borrower’s pay period. Assuming a regular pay period…