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Consumer Federation of America launches payday loan information website

May 4, 2006 - Washington, D.C.

The Consumer Federation of America (CFA) launched a web site intended to, in their words "Help consumers and policymakers combat extremely expensive check-based lending."

CFA is no friend of business. The views of the group's director, Jean Ann Fox, against the profit motive are well known and extreme. CFA is opposed to payday lending and has lobbied for it's ban. In addition, Jean Ann Fox has testified before congress seeking to ban rent-to-own, check cashing, pawn and seemingly any other business that markets to un-banked consumers.

That being said, the new website does contain some valuable information for consumers and payday loan companies. The site features laws regulating payday lending in all states, as well as links to appropriate state licensing and regulatory bodies.

News Source

RTO Online, Staff Writer

Related Link

A link to the CFA's new site was added to the links page.

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