Cleveland’s Bob Franz Show Discusses Payday Lending
April 25, 2008 | Ohio, best practices, industry, positive media coverage, states | Comments (0)Finally! Someone who “gets” it.
From this morning’s Bob Franz show on WTAM 1100…
“As long as you are up front and you tell people, you said you’ve got poster size, not fine print, in fact its great big bold faced, poster sized listings of your fees up front, anybody who walks in there knows full well what they are going to be charged. If they choose to sign on the dotted line and they agree to those terms, then why should the government be getting in the way at all? Why should they be trying to regulate how much you guys can make, regulate what interest you charge regulate any of your fees or anything else? If they are spelled out and people choose to do it anyway, I don’t understand how they can blame Checksmart or any of the others.”
Referencing CFSA’s mandated extended payment plan, Franz says, “Am I the only one that finds that extraordinarily generous?”
Franz speaks to a rep of the Community Financial Services Association, customers that have used the service and an employee of the industry.
Listen to the program at http://www.wtam.com/pages/bobfrantz/ondemand/. In the first hour, payday lending coverage starts 18 minutes and 30 seconds in. In the second hour, coverage starts 9 minutes 15 seconds in.
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