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The pooled regressions found that minimal loan terms affect loan size, while the law-change results help that.

Only 1 state changed its laws and regulations minimum that is regarding maximum loan term: Virginia raised its minimal loan term from seven days to 2 times the size of the borrower’s pay period. Presuming a regular pay period of a couple of weeks, this raises the effective restriction by about 21 days. The column that is third of 5 estimates that loan size in Virginia increased almost 20 times an average of as a result, suggesting that the alteration had been binding. Okumaya devam et