DC crackdown on Internet lenders
June 11, 2008 | DC | Comments (0)This is the official news release of the DC Department of Insurance, Securities and Banking regarding Internet lenders. The Payday Pundit’s favorite quote:
Since the payday lending law had been amended, we have seen an increase in the number of unscrupulous persons trying to take advantage of residents in other venues, namely the Internet,” said DISB Commissioner Thomas E. Hampton.
Yes, Commissioner; as we said during the debate, regulated storefront lending is the safest and best way for consumers to be protected.
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