Washington State DFI Report Shortsided – Payday Loans

“Report shows Payday Lending Law is helping keep people out of debt” – All the Washington regulators did was shove Washington payday loan customers into the hands of unlicensed internet and tribal Lenders! The Washington DFI has no clue how many payday loan transactions are completed online. Nor does the DFI know the APR’s, the fees being paid…

Yes, the number of payday loan lenders with offices in WA have contracted. So… less jobs, higher commercial vacancy rates, less taxes paid and on and on. And, the DFI has enabled an unlicensed payday loan operator in Belize or Costa Rica or the XXX Tribe to gather financial data (SS#’s, bank acct. info…) about Washington state residents! Consumers everywhere WANT their payday loan.

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