Payday Pundit

From the CFSA Press Release:
ACCESS TO SMALL, SHORT-TERM LOANS CRITICAL FOR WORKING FAMILIES
Urban Institute report recommends better disclosures and increased competition to protect consumers
WASHINGTON, DC–A new report by the Urban Institute finds that if payday advances are eliminated they “could be replaced by alternatives that make families even worse off.”
 In “Enabling Families to Weather Emergencies […]

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CFSA Press Release:
Consumers Denied Choice, Jobs Threatened as Ohio Senate Votes to Ban Payday Lending
Legislators Play Politics, Ignore Tens of Thousands of Ohioans 
Washington, D.C. – Ignoring the pleas of tens of thousands of customers and employees, Ohio Legislators chose instead to vote today to ban payday lending in Ohio, said the Community […]

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The article quotes CFSA president D. Lynn DeVault, “Operating under H.B. 545 is not economically feasible.  Our member companies say they expect stores to close and jobs to be lost.”

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At a conference held today in Washington, D.C., a report including reccomendations for addressing the “culture of debt” was released.
CFSA President D. Lynn DeVault had this to say in a press release:
“While the intentions are good, the recommendations in the report demonstrate the complexity of small-dollar, short-term credit offerings and their costs.  So-called ‘solutions’ such […]

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With  songs such as “Freedom” and “Save our Jobs” chants in the background, reporter Bill Cohen reports on the “massive rally” earlier this week with the “folks who own and work at the stores who came from across Ohio.”
With soundbites from D. Lynn DeVault (CFSA president), Jamie Frauenberg (Checksmart Sr VP), Karen Findlay (Advance America […]

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A hearing in the House Financial Institutions, Real Estate & Securities Committee just ended.  This is the first story.   We’ll provide more updates as they come in, but D. Lynn DeVault, CFSA President, testified on behalf of the payday lending industry. The word on the street is she did a great job talking about the business of payday […]

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The Community Financial Services Association of America has just issued a press release slamming the recent Reuters story which blamed the mortgage crisis on payday lenders.  The Reuters article is purely anecdotal and those anecdotes come from known payday lending critics. The reporter did not call CFSA or anyone from within the industry for a comment.  Here is what D. Lynn […]

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D. Lynn DeVault of Check into Cash, one of the country’s premier payday lenders, was elected President of the Community Financial Services Association of America  (CFSA) at the group’s annual meeting which concluded this weekend.   Ms. DeVault takes over from Darrin Andersen of QC Holdings who held the post for two years.  Mr. Andersen led the […]

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