An Open Letter to Tim Miller of the Center for Consumer Freedom

February 6, 2009

Dear Mr. Miller,

Your recent editorial in the Roanoke Times ("Don't Limit Credit Options For Struggling Families") includes a patently false assertion we'd like to correct: Self-Help does not charge overdraft bank fees that "exceed those of typical payday loans," in fact, we do not provide ANY fee-based overdraft loans.  Instead, we offer our customers an overdraft line of credit that is capped at an 18% annual percentage rate--that's way below the typical 400% APR on those payday loans you champion.  We invite you to visit our website to get the real facts about CRL and payday lending (http://www.responsiblelending.org). 

Sincerely,

Center for Responsible Lending


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