Post by Logan on Jul 9, 2016 6:14:24 GMT -6
Nevada’s state treasurer, payday business owners debate industry issues
Nevada Treasurer Dan Schwartz on Friday suggested that payday lenders are strategically located in low-income neighborhoods and near military bases to target these communities.
But the payday business owners fired back, disputing how their customers are characterized.
“They are hardworking men and women, they have jobs, their average income (is) nearly $40,000, they are teachers, they are nurses, they are firefighters,” said Trent Matson, director of government affairs for Moneytree. “They know they can get a $200 loan for $33 a charge as opposed to having their lights turned off for a $100 hook up fee or have another punishment that may hurt them even more.”
“Our clients are much more savvy than anyone gives them credit for,” Matson said.
Read more: www.reviewjournal.com/business/economy/nevada-s-state-treasurer-payday-business-owners-debate-industry-issues
Nevada Treasurer Dan Schwartz on Friday suggested that payday lenders are strategically located in low-income neighborhoods and near military bases to target these communities.
But the payday business owners fired back, disputing how their customers are characterized.
“They are hardworking men and women, they have jobs, their average income (is) nearly $40,000, they are teachers, they are nurses, they are firefighters,” said Trent Matson, director of government affairs for Moneytree. “They know they can get a $200 loan for $33 a charge as opposed to having their lights turned off for a $100 hook up fee or have another punishment that may hurt them even more.”
“Our clients are much more savvy than anyone gives them credit for,” Matson said.
Read more: www.reviewjournal.com/business/economy/nevada-s-state-treasurer-payday-business-owners-debate-industry-issues