WASHINGTON — Payday lenders that are members of the Community Financial Services Association have had to begin complying with the Association's revised best practices, which the CFSA says will better protect consumers in payday lending transactions.
"Consumers across the nation will be better informed and protected because of these important changes," said Darrin Andersen, president of the CFSA. "These changes represent another step in our ongoing efforts to respond to the concerns of policymakers and protect the financial well being of our customers."
The CFSA members control roughly half of the payday lending outlets in the U.S.
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