8 Seconds of Honesty: Payday Trade Group Leader Admits His Members’ Rates Can Be “Too Excessive”

During an appearance on the May 17 broadcast of WBUR’s On Point with Tom Ashbrook, Dennis Shaul – the CEO of Community Financial Services Association of America, the payday lending industry’s trade group – said: “I grant you that there are cases even among our lenders, who I think represent the cream of the crop, where the rate is too excessive.” [WBUR On Point With Tom Ashbrook, 5/17/16]



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