Jordan Ash
“It’s predatory in the way that it’s set up… Very few people are able to pay the loan back right away. The payday lenders know that. That’s how they make their money, by keeping the loan going.”
Jordan Ash, director of financial issues for a national consumer group, attacks the payday loan industry in a news article…
In the same article, he was also quoted as saying:
“Payday loan companies say their growth indicates there is a big demand for their services… The same could be said for people buying crack… Lots of folks buy crack, but that doesn’t mean there’s a legitimate need for it.”
Jordan Ash works for ACORN, the Association of Community Organizations for Reform Now, an organization for ’social justice and stronger communities.’
Source: Payday Loan Perils (The Independent Weekly)
Please visit our Payday Loan Pitfalls category for more information on the dangers of cash advance loans.
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