Summing up the year
December 27, 2009 | industry | Comments (0)CFSA Board Chair D. Lynn DeVault spoke to our friends at Cheklist magazine. From the article:
According to D. Lynn DeVault, board chair of the Community Financial Services Association of America, there has been plenty of activity, but in the end, things have been relatively positive.
CFSA is tracking about 178 bills in the states. It opposes 101 of those. “I think we’ve had some fairly good fortune in the states legislatively this year,” DeVault says. “We have a number of bills out there that are still active, but generally speaking things are okay.”
There was the expectation of a big legislative push on the state level after the defeat of referendums in Arizona and Ohio, but nothing materialized.
DeVault believes that action at the grassroots level was the key to the lack of movement in payday loan legislation. Legislators were being informed and educated about the payday product.
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