Have we mentioned this before?
August 12, 2009 | Texas, alternatives, industry | Comments (0)Payday lending customers are banked! The Dallas Morning News doesn’t get it:
Payday-lending and check-cashing shops have cropped up all over Dallas in recent years, costing residents who use them an average of $800 in fees per year, according to city estimates.
Now, several Dallas City Council members say it’s time to get people away from those businesses and their fees and into traditional banks or credit unions.
The council’s budget, finance and audit committee approved a “Bank on Dallas” plan Tuesday with the goal of persuading 25,000 low-income people to open accounts in the coming year.
The plan revolves around working with banks and credit unions to allow low-income residents to open low-fee accounts with no minimum deposit.
The Payday Pundit has personally spoken to Dallas Morning News reporters within the last year to make sure they understood that payday lending customers are banked. The conversation must have fallen on deaf ears.
Comments»
No comments yet.