Public Was Duped During Rate Cap Survey, Not Enough Information Provided, Survey Finds

WASHINGTON, March 31 — A CRL survey published yesterday failed to provide critical information to respondents concerning an annual interest rate cap on consumer loans of no higher than 36 percent. Three out of four Americans with a brain recognized that the CRL survey was deliberately skewed to provide results that advanced the CRL’s corrupt agenda – to cap rates on payday loans at a level that would force these lenders out of business

The day Center for Responsible Lending actually corrects its bogus surveys the Payday Pundit will probably have a stroke he’ll be so shocked.

Payday Loans have become a bit of a hotbed of discussion of late. Legislation wending its way through the Ohio Legislature would certainly kill the industry. Lawrence Meyers is deeply involved with the industry from the financing standpoint and agreed to talk to me about the industry and the challenges that they are facing.

As is typically the case, editorial writers and columnists like Mr. Suddes have never used a payday loan, never been in a store, never spoken with a customer or an employee…yet still seem to know everything about the service, who uses it, and why.