Center for Responsible Lending’s tried and true formula
July 1, 2008 | Alabama, industry critics, media coverage | Comments (0)Find a local activist, help him or her draft a letter to a local paper using the same tired rhetoric against payday lending. Single out a legislator who doesn’t share your views and attack him or her in the letter.
These letters always ring a false note because they are typically written by Center for Responsible Lending but signed by local citizens who would otherwise have of no knowledge or interest in the issue at all. In this case, it’s a physician who happens to spew CRL talking points.
Here’s a typical line from this “concerned citizen” (fed to them by CRL) that shows up in letters all over the country.:
Yet statistics from the Center for Responsible Lending (and common sense) indicate that the majority of their profits come from repeat borrowers who are unable to repay the loans. These victims are then forced to extend their loans again and again at great expense.
The Payday Pundit is surprised that a doctor would let himself be used like this.
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