Lyndsey Medsker
“The critics of this industry are very quick to criticize payday advances, but they’re very slow to offer realistic alternatives for people.”
Payday loan trade group spokeswoman Lyndsey Medsker attacks critics of her industry…
She also disagrees with the proposed 36% cap on payday loans to military personnel:
“At 36-percent rate cap, what that means is per $100 that our lenders lend, they can only charge $1.38. With $1.38, they can’t afford to pay their own employees or any overhead costs.”
Lyndsey Medsker is a spokeswoman for the Community Financial Services Association, which represents the payday loan industry in Washington, D.C.
Source: Military Payday Loans, Threat To Readiness? (ABC News)
There are, in fact, many alternatives to payday loans. Also, there are special financial resources for military personnel and students.
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