CRL’s Secret Stash: The Truth about Predatory Loans
February 13, 2009
A recent posting in a payday lending industry blog wondered whether CRL had "money stashed away somewhere" to continue protecting consumers from high-interest payday loans. The truth is that when the facts are in your side, you don't need much cash.
Case in point, the recent ballot battles in Arizona and Ohio where payday lenders and their lobbyists outspent CRL 16 to 1. In the Ohio ballot alone, the payday lending industry spent well over $15 million to lose overwhelmingly. While in Arizona, the payday lending industry pumped more than $14 million to be rejected by the majority of voters.
So what's CRL's secret? Proven research that shows that payday loans trap borrowers in debt. No amount of money or "hired guns" can dilute that fact.
More straight answers: CRL |