Industry supports financial literacy
October 27, 2009 | industry, positive media coverage | Comments (0)And Larry Meyers gives credit where credit is due….even to the Cleveland Plain Dealer:
However, I have to credit reporter Sheryl Harris of the Cleveland Plain-Dealer for providing a balanced article on the payday loan industry in Ohio. Ms. Harris reported on Checksmart providing free financial literacy seminars in conjunction with the Ohio Black Legislative Caucus and Congress of Racial Equality.
Naturally, those opposed to the industry somehow see these seminars as evil. Why? Because they are utterly biased against the industry. Why? Because they are naturally in a position to see what happens to irresponsible borrowers, or those harmed by a handful of bad apple lenders. Why? Because they belong to Cleveland Diocesan Social Action Office and the Faith Community United Credit Union. It is these types of organizations that people go to for help. What these organizations always do is draw a conclusion based on sampling bias — since all they see are people in trouble, they conclude that nobody is actually being helped by payday loans — which they are, in droves.
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