John Jones
“Payday lenders are targeting people who are vulnerable. They are sucking the lifeblood of people in our neighborhoods.”
Consumer advocate John Jones made this statement after Washington state regulators levied a record total of $1.2 million in fines against two payday loan companies…
According to an article by Vanessa Ho, the Washington Department of Financial Institutions charged two Tacoma-based companies with making hundreds of loans that exceeded the state’s legal limit.
Jones applauded the move:
“It’s good these individuals got fined, because our state has to hold these lenders accountable.”
John Jones is president of the Washington chapter of ACORN (Association of Community Organizations for Reform Now), a national grassroots organization for ’social justice and stronger communities.’
Source: 2 Payday Loan Firms Fined $1.2 million – State Says They Exceeded Lending Limits by Vanessa Ho (Seattle Post-Intelligencer)
Related Quote: Jordan Ash
To find the website of the Washington Department of Financial Institutions, please visit our list of State Regulatory Agencies for Payday Loans. In the list, you can find state databases of licensed payday lenders and forms to file complaints against lenders who do not abide by state regulations.
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