The payday loan industry is very misunderstood. Most people just take knee jerk reaction to the industry.
Jamie Fulmer speaks out against and article that distorts some fines placed on the company.
“…the editorial inaccurately described many of these violations and failed to acknowledge that they were documented during store audits conducted by BFI before the new short-term lending law took effect in January 2009.
The editorial pointed to 38 instances of taking “a borrower’s property” to secure a loan, for example. This citation had nothing to do with property, but instead amounted to checks not properly made payable to Advance America.”
You can read the full letter here.
