With huge profits at stake, the payday lending industry is fighting reform efforts by positioning itself as "consumer friendly," misrepresenting the facts, and circumventing state laws.

Claim 1: Payday loans provide needed emergency credit.
Claim 2: Payday lenders serve the working middle class.
Claim 3: Customers understand the cost of this service.
Claim 4: Payday loans are cheaper than other alternatives.
Claim 5: Fees are high because these loans are risky.
Claim 6: Most consumers use payday loans responsibly.
Claim 7: Consumers oppose any limits on payday lending.
Claim 8: The payday industry is already highly regulated.

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