The pooled regressions found that minimal loan terms affect loan size, in addition to law-change results help that.

Just one state changed its rules minimum that is regarding maximum loan term: Virginia raised its minimal loan term from 1 week to 2 times the length of the debtor's pay period. Presuming a typical pay period of fourteen days, this raises the effective limit by about 21 days. The third line of dining table 5 estimates that loan size in Virginia increased almost 20 times an average of as an end result, suggesting that…