FTC warns consumers about borrowing from online sites
November 25, 2008 | alternatives, best practices, industry | Comments (0)As detailed in this article, the online lending business is booming. Members of CFSA who offer payday loans online are required to follow the laws of the state of the borrower. Unfortunately for consumers, many online lenders are located offshore and are completely unregulated.
Wouldn’t it be better to allow brick and morter payday lenders to offer the service instead of driving consumers to Google to search for an online lender?
