Darrin Anderson
“A payday loan at that rate would be unprofitable because it costs us $13 per $100 loaned, but we could only charge $1.38.”
Payday loan company and trade group president Darrin Anderson says that the 36% rate cap on loans to military members will make it impossible for payday lenders to issue loans to our armed forces…
Anderson, who is also president of QC Holdings, said his company is considering closing its Quik Cash outlets near military bases.
Darrin Anderson is president of the Community Financial Services Association (CFSA), a payday loan industry trade group, and QC Holdings.
Source: Military Payday Loans May Stop by Wayne Heilman (Colorado Springs Gazette)
Anderson’s sentiments are shared by CFSA spokesperson Lyndsey Medsker and payday lender Larry Nuckols.
If you serve in our armed forces, please read Interest Free Loans for Military Personnel in our Payday Loan Alternatives category or Financial Resources for Military Personnel in our Links section.
Recent Posts:
- 01/25/2012: Traffic Comparison Page Update
- 01/23/2012: BBB Accreditation Added
- 01/07/2012: Added Google Plus Button
- 12/17/2011: Latest Contact Info Requests
- 12/17/2011: Another IP Ban for Ratings Abuse
Random Posts:
- 10/05/2006: Twelve Differences Between Payday Lenders and Credit Card Companies
- 07/10/2006: No Partial Payment
- 07/27/2006: Financial Service Centers of America
- 02/03/2007: Donna Cassun
- 08/31/2006: Amy Gibb
loading...