We tripped up over this little gem dropped in the payday loan industry’s press conference held on Wed Feb 21st – which attended by remote telephone (neat!).
Mary Jackson, speaking for the Community Financial Services Association of America (CFSA) said:
When you look at some of the research that’s been done on our rate-structure and fee base, it’s usually a lower-cost alternative for consumers.
Apparently, payday loans are a viable money-management tool. In fact, we hear that Ben Stein and Warren Buffet use payday loans all the time. — BEN POPKEN