Advance America funded 10,000,000 payday loan transactions in 2010. They are the largest brick-n-mortar, regulated lender in the U.S. They received just under 50 complaints TOTAL for the entire year!
With the exception of Jessica Silver-Greenberg at the Wall Street Journal and Carter Doughtery at Bloomberg, why can’t the media “get this?” Because they are lazy! It’s easier to visit one of the paternalistic web sites such as the CRL and swallow the drivel.
I have a novel suggestion for you reporters. Pick up the phone and call an industry insider who spends time “in the trenches.” Then, get off your ass and visit some payday loan stores. Talk to the customers. Leave your bias outside and forget the loaded questions. You want to build your brand? You want to develop a stellar reputation for truth and accuracy? Be an outlier! Dig… do the work… approach your reporting with an open mind!
Jer – Trihouse 702-208-6736