Payday Loan and Other Micro-Lenders Evolving

Payday Loan Store Neon SignCFSI President & CEO Jennifer Tescher requests financial services professionals to make commitments to adopt best practices to better serve the 60+ million underbanked consumers in the U.S. today.

“We are asking that more companies commit to specific, measurable, high-impact initiatives that embody these Principles,” said Tescher. “By committing to these four guidelines, Embrace Inclusion, Build Trust, Promote Success, and Create Opportunity, we believe financial services companies can create both consumer and provider success and be a force for good in consumers’ lives.”

Payday loan consumers are becoming more hesitant to provide their financial data to Internet Lenders. The store model may experience a resurgence as a result. It’s up to the regulators and the legislators in the states and provinces!

For this complete story, go here: Three Companies Publicly Commit to Improving Consumers’ Lives through Financial Offerings


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