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WASHINGTON — The Community Financial Services Association, the trade association for payday lenders, has denounced a recent Department of Defense report that asked Congress for laws that would regulate how payday lenders lend money to members of the U.S. military.

“This study is simply a rehash of unsubstantiated claims that have already been discredited. In fact, certain conclusions in the report directly contradict research conducted by the current chair of the FDIC, government agencies, foundations and academics involved in financial issues and study,” said Darrin Andersen, president of CFSA.

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