Yeah, we don’t do that…
July 29, 2010 | Washington Post, industry | Comments (0)Michelle Singletary throws a little hissy in the Washington Post today about payday lenders supposedly drawing from folks’ social security benefits.
I guess it doesn’t matter that CFSA denounced the same practice last week.
Lynn DeVault, board chair of CFSA, said she knows of no payday advance companies that engage in this practice and that the industry strongly supports efforts to block all lenders from gaining access to a borrower’s bank account through these sub-account arrangements.
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