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In 1999 they set out to generate more revenue from the banks.
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In some States in which rollovers are permitted they are subject to certain limitations such as a cap on the number of rollovers or requirements that the borrower amortize—repay part of the original loan amount—on the rollover.
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And Sean Bartlett, a spokesman for Congresswoman Debbie Wasserman Schultz, argued the state was successful in reigning in the payday loan industry in 2001.