From Walletpop’s series on payday lending: 

“Nineteen million Americans use payday loan services a year, with more than 100 million transactions done a year,” says Steven Schlein, the spokesman of the Community of Financial Services Association of America, or CFSA, which is a national organization that (according to its website) promotes “responsible regulation of the payday advance industry and consumer protections.” Schlein says, “There’s obviously a giant demand for our services. If anybody wants to compete with us and come up with something better, God bless them, but let us compete with that.”