Hell freezes over!
December 6, 2008 | Consumer Federation of America, industry critics | Comments (0)Because we find ourselves in agreement with the Consumer Federation of America on the issue of some on-line payday lending. From today’s article:
Jean Ann Fox, director of financial services for the Consumer Federation of America, said such loans have the disadvantages of a payday loan as well as additional dangers.
“Online payday lending is extremely risky for consumers,” Fox said this week. “The borrower must provide all of their personal information online, including their Social Security number and bank-routing number to give the lender access to their account.”
So it would be smart to stop attacking storefront lending, correct, Ms. Fox?
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