Setting the record straight in the Dairy State
February 29, 2008 | Capital Times, Wisconsin, best practices, industry, media coverage, states | Comments (0)An article pennded by Dave Zweifel, appearing in today’s Capital Times – out of Madison, WI — says that state legislators need to “place some protection for the folks who all too often get suckered into small loans that wind up with triple-digit interest rates.”
This accusation might make for good copy, but is far from the truth. Payday lenders have some of the most consumer friendly disclosure rules in the lending business. Our disclosure policy states that all CFSA member-companies will prominently display posters in their stores explaining their fees, and will post this information to their company websites. Knowing the fees means that no one is getting “suckered”.
