Responsible Lending Policy

Last Updated: January 1, 2025

Our Responsible Lending Principles

1. Transparency First

We believe in complete transparency in all our lending practices. This means:

• Clear disclosure of all fees, rates, and terms before you commit
• No hidden charges or surprise fees
• Plain language explanations of all loan terms
• Easy-to-understand repayment schedules
• Full disclosure of the total cost of borrowing
• Written documentation of all agreements

2. Affordability Assessment

Before approving any loan, we carefully assess your ability to repay without causing financial hardship. Our assessment includes:

• Verification of stable income sources
• Review of existing financial obligations
• Analysis of your debt-to-income ratio
• Consideration of your credit history and payment patterns
• Evaluation of your overall financial situation
• Assessment of your capacity to meet repayment obligations

3. Fair Treatment

We treat all customers fairly and with respect, regardless of their financial situation. This includes:

• Non-discriminatory lending practices in compliance with ECOA
• Equal access to our services for all eligible applicants
• Respectful and professional customer service
• Fair and lawful collection practices
• Prompt response to customer concerns and complaints
• Reasonable accommodation for customers experiencing difficulties

Borrower Rights and Responsibilities

Your Rights as a Borrower

You have the right to:

• Receive complete information about your loan terms before accepting
• Cancel your loan within the cooling-off period (where applicable by law)
• Make early repayments without penalty
• Receive clear monthly statements of your account
• Be treated with dignity and respect at all times
• Have your personal information protected and kept confidential
• File complaints and have them addressed promptly
• Request modification of loan terms if experiencing hardship

Your Responsibilities as a Borrower

As a responsible borrower, you should:

• Provide accurate and truthful information in your application
• Borrow only what you can afford to repay
• Understand all loan terms before accepting
• Make payments on time according to your agreement
• Contact us immediately if you experience payment difficulties
• Keep your contact information current
• Review your loan statements regularly
• Notify us of any changes in your financial situation

Financial Education and Support

We believe in empowering our customers with financial knowledge. We provide:

• Free educational resources on budgeting and financial management
• Online tools to help you understand the cost of borrowing
• Information about alternative financial solutions
• Guidance on improving your credit score
• Tips for avoiding debt cycles
• Workshops on financial literacy (where available)
• Resources for financial counseling services

Vulnerable Customer Policy

We recognize that some customers may be in vulnerable situations. We take extra care to:

• Identify customers who may need additional support
• Provide clear and simple explanations of loan terms
• Offer flexible repayment options where possible
• Connect customers with financial counseling resources
• Avoid lending to those who clearly cannot afford repayment
• Provide additional time for decision-making when appropriate
• Ensure vulnerable customers understand their obligations

Collection Practices

If you experience difficulty with repayments, we commit to:

• Contact you promptly to discuss your situation
• Listen to your circumstances with empathy and understanding
• Work with you to find a mutually acceptable solution
• Provide information about debt counseling services
• Follow all applicable laws regarding debt collection
• Never use harassment, threats, or abusive language
• Respect your privacy and contact preferences
• Limit contact to reasonable times and frequencies

Preventing Over-Indebtedness

We actively work to prevent customers from becoming over-indebted by:

• Limiting the number of loans a customer can have simultaneously
• Conducting thorough affordability assessments
• Encouraging customers to borrow only what they need
• Providing clear warnings about the risks of multiple loans
• Offering financial education resources
• Referring customers to credit counseling when appropriate
• Monitoring for signs of financial distress
• Declining applications when lending would be irresponsible

Regulatory Compliance

We strictly adhere to all applicable laws and regulations, including:

• Federal Truth in Lending Act (TILA)
• Fair Credit Reporting Act (FCRA)
• Equal Credit Opportunity Act (ECOA)
• Fair Debt Collection Practices Act (FDCPA)
• Electronic Fund Transfer Act (EFTA)
• Gramm-Leach-Bliley Act (GLBA)
• State lending laws and regulations
• Consumer Financial Protection Bureau (CFPB) guidelines

Continuous Improvement

We are committed to continuously improving our responsible lending practices by:

• Regularly reviewing and updating our policies
• Listening to customer feedback and acting on it
• Monitoring industry best practices
• Training our staff on responsible lending principles
• Conducting regular compliance audits
• Partnering with consumer advocacy groups
• Investing in technology to improve customer experience
• Participating in industry initiatives for responsible lending

Warning About Short-Term Loans

Alternatives to Consider

Before taking out a short-term loan, please consider these alternatives:

• Negotiating payment plans with your creditors
• Seeking assistance from family or friends
• Applying for a credit union loan
• Using a credit card (if available and appropriate)
• Seeking an advance from your employer
• Selling unused items or assets
• Taking on additional work or overtime
• Contacting local charities or government assistance programs
• Consulting with a non-profit credit counseling agency

Financial Counseling Resources

If you need help managing your finances, consider contacting:

Our Commitment to You

E-Z CASH ADVANCE, INC. is committed to:

• Lending responsibly and ethically
• Treating all customers with respect and dignity
• Providing transparent and fair loan terms
• Supporting customers experiencing financial difficulties
• Contributing to the financial well-being of our communities
• Maintaining the highest standards of business conduct
• Continuously improving our services and practices
• Being a trusted partner in your financial journey

Contact Us

If you have questions about our responsible lending practices or need assistance with your loan, please contact us:

Feedback and Complaints

We value your feedback and take all complaints seriously. If you have concerns about our services or lending practices, please:

1. Contact our Customer Care Department directly at (347) 555-3152
2. If not resolved, escalate to our Management Team
3. File a complaint with the Ohio Department of Commerce
4. Contact the Consumer Financial Protection Bureau at (855) 411-2372

Thank you for choosing E-Z CASH ADVANCE, INC. We are committed to serving you responsibly and helping you achieve your financial goals.