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Net_Tangible_Benefit

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					                     COMPONENTS OF A TEST THAT MIGHT TRIGGER A
                        NET-TANGIBLE-BENEFIT REQUIREMENT
Most restrictive




                     Measuring       Metric Type        Example Using “Past 12 Months” as the
                      Period                                     Measuring Period
                    Borrower’s      Days in        Subject loan must meet NTB requirement if borrower
                    lifetime        Product        has had a PDL outstanding for ____ days within the past
                                                   12 months
                    Past 12         Discrete       Subject loan must meet NTB requirement if borrower
                    months          Loans          has obtained ____ PDLs within the past 12 months

                    Past 90 days    Waiting        Subject loan must meet NTB requirement if borrower
                                    Period         has obtained ____ or more consecutive PDLs within the
                                                   past 12 months (“consecutive” loan defined as any PDL
                                                   not preceded by a waiting period of at least ____ days)
                    Past 45 days    Default        Subject loan must meet NTB requirement if borrower
                                                   has defaulted on a PDL within the past 12 months
Least restrictive




                    Previous loan   Extended       Subject loan must meet NTB requirement if borrower
                                    Payment Plan   has requested EPP within the past 12 months

                    No “look-       Refinance      Subject loan must meet NTB requirement if borrower
                    back” period                   has refinanced a PDL within the past 12 months
BORROWER’S REPRESENTATIONS THAT MIGHT
     SATISFY AN NTB REQUIREMENT
        EXAMPLE OF A NET-TANGIBLE-BENEFIT
                   WORKSHEET
                                      Loan Information Statement

By initialing by the one or more items below, the borrower hereby represents that he or she will receive the
following benefit(s) by obtaining this payday loan:

____ Lower my APR on an existing payday loan from ____% to ____%.

____ Extend the due date of an existing payday loan from _________ to __________.

____ Reduce the payment amount of an existing payday loan from $__________ to $__________.

____ Allow me to match my income and expenses this month despite a variance in my income due to (select
     all that apply): ____ self-employment income; ____ commissions; ____ overtime; other (explain)
     __________________________________________.

____ Allow me to pay a variable expense, the non-payment of which would cause (select all that apply): ____
     loss of income; ____ embarrassment or inconvenience; ____ default penalties; or other (explain)
     ___________________________________________.


                                                 ___________________                 _________________
                                                 Borrower                            Date

				
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posted:4/17/2011
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