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Lender advocates: Education key to accountable financing

Lender advocates: Education key to accountable financing

When confronted with a few present and pending moratoriums on payday loan providers when you look at the Golden Triangle and statewide, advocate groups are talking through to behalf of check-cashing services.

Dan Robinson, owner of money Inc. in Columbus and a representative for Borrow Smart Mississippi, states customer training could be the response to stopping the period of high-interest financial obligation skilled by numerous loan that is payday. Tommy Moore, vice president for the Community Financial solutions Association of America, situated in Alexandria, Va., contends payday loan offerrs give a service that is vital available through conventional finance institutions.