Bill Taylor

Posted by Online-Payday-Loans.org on Sep 28, 2006 in Proponent, Quotes

“When a bank charges $38 for a bounced $10 check, what is the ‘interest rate’ on that?”

Payday lender Bill Taylor attacks bounced check protection…

He also argues that his payday loan charge is a ‘fee’ and not interest:

“We are required to post a conspicuous sign stating the ‘interest’ rate that we charge. However, the contract that each customer signs clearly states that the charge is a fee, and not interest.”

Bill Taylor owns two payday loan businesses in Jackson.

Source: Proposed Loan Rules ‘Ridiculous’ (The Clarion-Ledger)

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