Source Advisory Re: Payday Loan Reform

The Community Financial Services Association is the national trade association that represents payday lenders across the nation. CFSA represents approximately 60 percent of Illinois' payday lenders.

CFSA has called for two minor changes to SB1993, one that reflects the intent of the 2005 Reform Act and the other to ensure consumer protections while keeping the payday loan industry viable as a much-needed source of liquidity for consumers.

CFSA is a distinct organization from the Illinois Small Loan Association.

To speak with a representative of the Community Financial Services Association, please call Lena Parsons at 773-425-0725 or 312-255-3073.

PRNewswire -- May 12
First Call Analyst:
FCMN Contact:

Source: Community Financial Services Association

2008-05-12 18:30:43 0359423 PRNEWSWIRE