…”homemakers, firefighters and teachers…”
December 24, 2008 | California, Center for Responsible Lending, Consumer Federation of America, LA Times, customers, employees, industry, industry critics, media coverage, positive media coverage | Comments (0)Those are the payday lending customers discussed in this this four-page story in the Los Angeles Times headlined: “More in middle class using payday lenders”:
With tidy lobbies that resemble bank branches, many outlets are in shopping centers anchored by Wal-Marts, grocery stores or other big retailers. Lenders say their typical customers include homemakers, firefighters and teachers, whose steady jobs qualify them for loans.
Yes, the typical customer is the typical American.
Here’s the side bar to the article: “How payday loans work.”
Short of cash to fix her ailing BMW this year, Lunetta Blanks could have paid the bill with plastic. Instead, the federal investigator opted for a payday loan, shelling out $300 to pay off a $255 loan from the Advance America branch in her Silver Lake neighborhood.
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