Talk is cheap
August 11, 2008 | Virginia, industry, media coverage, regulation | Comments (0)The Richmond Times Dispatch is bothered that payday lenders don’t want to be required to tell customers all the payment terms verbally. Lenders argue that this will slow down the transactions in stores.
Payday loans are the most transparent loans there are. A third grader can comprehend the loan form. Anti-payday lending activists, Richmond Times editorial writers among them, want to pile on obstacles to the industry, not make things easier for consumers.
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