Bring on the competition
October 3, 2009 | Michigan, alternatives, industry | Comments (0)CFSA’s Steven Schlein had this to say about Fifth Third Bank’s payday loan alternative:
A spokesman for the payday lending industry association says it welcomes the competition.
“We always believe that we can compete with anybody,” said Steven Schlein, a spokesperson for the Community Financial Services Association of America, which represents 22,000 payday stores nationwide. “The bank products have rarely ever proven to be less expensive or more convenient for our customers.”
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