Storefront payday lenders criticize online rivals for affiliating with Indian tribes
Elaine Thompson/The Associated Press
Brand brand brand New Consumer Financial Protection Bureau has authority to modify payday industry
Introduction
A U.S. selection of storefront payday loan providers is distancing it self from some online payday lenders, saying they wish to avoid state legislation by partnering with Native America tribes.
“We abhor their methods,” Steven Schlein, a spokesman for the customer Financial Services Association of America (CFSA), a bunch that represents bricks-and-mortar lending that is payday, told iWatch Information.
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