Bill Clinton

Posted by Online-Payday-Loans.org on May 1, 2007 in Opponent, Quotes

“With fees and interest, people with one of these loans (payday loans) wind up paying interest of 40% to 500% and as a result a lot of people are going bankrupt quicker because they don’t have access to ordinary banking services.”

At a speech in Detroit on Sunday, Former President Bill Clinton urged people to put pressure on banks to open up their businesses to lower-income families…

Getting more low-income Americans into the regular banking system (rather than depending on payday loan shops) is one of Clinton’s many causes.

Clinton also said payday loan shops:

• outnumber McDonald’s restaurants
• are a risky quick fix

Bill Clinton was the 42nd President of the United States. He served from 1993 to 2001.

Sources:
Clinton Closes NAACP Event by Kathleen Gray (Detroit Free Press)
Clinton Urges Detroiters to Tend to Their Health and Finances (MSNBC)

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