- Prohibitions of business practices are more likely to be found in state law than federal regulations.
- As a safety & soundness issue, I'm uneasy with consumer loans with lengthy repayment intervals. You might style this as a "monthly payment" loan, but it's really an annual payment loan. Will the borrower be willing and able to make the next cash infusion? If s/he has a financial meltdown in month #2, I'd rather know about it in month #3 than month #12. By then, other creditors have claimed all the borrower's assets and your loan is an unrecoverable loss.