(Cash Before Payday) Payday Lenders Spent $160000 Lobbying - Forbes
The Community Financial Services Association, which represents providers of short-term cash advances, spent $160,000 to lobby the federal government in the first half of 2007, according to a disclosure form. The Washington-based trade group lobbied Congress on regulations for the payday loan industry, which has been criticized for charging high interest rates to low-income consumers, according to the disclosure form posted online Aug. Congress last year passed a law limiting the amount of interest that members of the military and their dependents can pay on consumer loans to an annual rate of 36 percent. Sitemap Help Contact Us Investment Newsletters Forbes Conferences Forbes Magazines Forbes Autos Ad Information Forbes. Learn more
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