How about competition from payday lenders?
February 19, 2010 | North Carolina, alternatives, industry | Comments (0)The head of the installment lenders association in North Carolina defends his industry citing the needs of consumers for small loans. We agree with him and think consumers could also benefit from more choices. From the story:
We still believe this is the most responsible credit option, particularly when compared with the cost of overdraft protection, credit card charges, or refund anticipation loans often used by lower income individuals. Unlike the tricky terms of frequently criticized consumer loans, traditional installment loans are simple, understandable and sustainable.
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