Tag: ACH Payment Processor:Payday Loans-Darrell Issa


ACH Payment Processor:Payday Loans-Darrell Issa

Payday loan ACH processorsFrom Congressman Darrell Issa to Eric Holder, Attorney General, U.S. Dept of Justice [January, 2014]

“The Committee on Oversight and Government Reform is… concerned the DOJ is inappropriately targeting two lawful financial services: 3rd party payment processors and online lending.”

“… The overwhelming majority of merchants who rely on payment processors are honest and legitimate small businesses…”

“Online lenders specialize in offering consumers small, short-term loans online.”

“For 28.3% of households in the U.S., online short-term lenders are often the only realistic way to make ends meet.”

Click here to access the Darrell Issa letter in it’s entirety: Darrell Issa

Click here to secure an ACH processor: ACH Processor

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