From Prison to Payday Loans to Entrepreneurship to CFPB Testimony

By | Jul 7, 2016

In February, I was given the unlikely opportunity to testify before Congress on the Consumer Financial Protection Bureau’s (CFPB) proposed small-dollar lending rule.

My testimony was unlikely because I grew up in public housing, spent time in federal prison for selling drugs – and I’m a satisfied customer of the payday lending industry.

Now with the CFBP officially releasing its proposed rule on June 2, a rule that will threaten access to small-dollar loans for millions of Americans just like me, I felt compelled to tell my story and make sure others know the true value these loans have for people in need of short term credit.

Mine is a true success story and I owe a great deal of it to the payday lending industry.

Without the payday and title loans I was able to get, nothing that I have been able to achieve would have happened.

Ten years ago, I started a commercial cleaning business, Imperial Cleaning Systems, Inc. in my hometown of Nashville, Tennessee. Today I have…

Read Robert Sherrill’s full story here on The Hill, the U.S. Congress Blog:

http://thehill.com/blogs/congress-blog/economy-budget/286718-what-payday-loans-mean-to-me

Here’s a shorter link via Google if you need it: http://goo.gl/GqTZL3

Mr. Sherrill’s story is amazing! Forward this email to EVERYONE. Help our industry.

Thank You, Jer – Trihouse

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4 Comments so far
  1. Johnny July 8, 2016 9:57 am

    Wow! What a great story. Too bad the Washington D.C. big brother a holes don’t have a clue…

  2. PaydayLoanGuy July 8, 2016 10:12 am

    When the CFPB met in Kansas City, they all admitted to never having visited a payday loan store! And, they admitted the volume of complaints they receive from payday loan customers is inconsequential!!

  3. Jimmy August 3, 2016 12:45 pm

    FASCINATING story! It CAN still happen in America!!

  4. PaydayLoanGuy August 5, 2016 9:43 am

    Most certainly! And it’s not rocket science.

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