24
Jun

Payday Loan Store-Front Businesses: More Ammunition

OETA did a piece on the Oklahoma payday loan industry. In the video, the DA makes the statement that he would prefer store-front payday loan lenders be allowed in the state with some restrictions rather than outlaw the industry and force Oklahoma payday loan consumers to solve their financial challenges with Internet companies. 13% of Oklahoman’s have gotten a payday loan in the past 5 years.

The content of the video makes many derogatory references to tribe payday loan companies, emphasizes the few complaints received by the BBB regarding Oklahoma payday loan stores, and includes several interviews of real-world payday loan customers. These interviews confirm that the payday loan product is not without its controversies BUT does meet a real need in the market place of financial choice.

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Comments ( 2 )
  • Frank M. says:

    I think this kind of coverage bodes well for those of us investing in payday loan, installment loan and all store based small dollar loan consumer services. I’m really feeling better about my future in the payday loan space and my ability to compete against tribes and the internet lenders.

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