Online Payday Loans

“The reason payday lenders are in business is they do offer a service that other businesses don’t offer.”

Payday loan trade group spokeswoman Lyndsey Medsker defends her industry…

She disagrees that payday lenders target military personnel and that they only make up a fraction of their business. With regards to the high fees, Medsker said:

“It’s expensive to administer short-term loans… honestly, it’s the cost of doing business.”

Lyndsey Medsker is a spokeswoman for the Community Financial Services Association, which represents the payday loan industry in Washington, D.C.

Source: Are Predatory Lenders Ripping Off Our Nation’s Finest? (ABC News)

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