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Published: April 20, 2005
Payday lenders rapped again

 

Column: Under the Dome

Author: Dan Kane
Valerie Bauerlein
Lynn Bonner; Staff Writers

Edition: Final
Section: News
Page: B5
April 20, 2005

Payday lenders misused a federal report, one of its authors said, when the industry group wielded it as a cudgel recently to criticize the Center for Responsible Lending. Consumer advocates are objecting to a bill that would legalize more payday lenders in the state.

University of Florida researcher Mark J. Flannery wrote Lynn DeVault, head of the payday lending trade group, last week saying that she had mischaracterized his Federal Deposit Insurance Corp. study as contradicting a recent Responsible Lending report. Responsible Lending said payday lending outlets concentrate in North Carolina's black neighborhoods.

"We don't have anything to say about that pro or con," Flannery said.

 

Copyright 2005 by The News & Observer Pub. Co.
Record Number: if8gzj89
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