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The industry’s fast-paced growth indicates a successful business model with profitability typical of other consumer financial services businesses. Statistics compiled by the Center for Responsible Lending show that the majority of the industry’s profit comes from repeat borrowers who are unable to repay loans on the due date and instead repeatedly renew their loans, paying fees each time. Some federal banking regulators and legislators seek to restrict or prohibit the loans not just for military personnel, but for all borrowers,[4] because the high costs are viewed as an unnecessary financial drain on the lower and lower-middle class populations who are the primary borrowers.

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