David Davis
“Payday loan offices provide a service abandoned by the financial community. It simply costs too much for them to put a small loan on the books.”
David Davis defended payday loans in an article…
He also defended the high interest rates of cash advance loans:
“Would you risk loaning someone you didn’t know $100 on a promise to pay it back in two weeks? That’s what we do every day.”
Mr. Davis is president of the Kentucky Deferred Deposit Association. He owns 15 Check-N-Go stores.
Source: JPMorgan, Banks Back Lenders Luring Poor With 780 Percent Rates (Bloomberg)
Recent Posts:
- 05/05/2009: CompareCashLoans.com Gets a Facelift
- 06/16/2008: Demographic Study of Online Payday Loan Consumers
- 05/26/2008: Daniel O’Sullivan
- 04/24/2008: Update: Payday Loan Laws that Hurt Consumers
- 04/07/2008: Manitoba Public Utilities Board
Random Posts:
- 09/05/2007: Norman Jacko
- 10/04/2007: Wendy Gibson
- 10/18/2006: Deputy Attorney General Jill Miles
- 07/30/2006: Jordan Ash
- 06/21/2006: Repay Early