Louisiana Publications Highlight Support for the Payday Loan Industry
As the Louisiana State Legislature considers measures that could place tight restrictions on the payday loan industry, Advance America employees and industry representatives are speaking out to help people understand the important role short-term credit plays in our customers’ lives.
Advance America’s Josh Bessette provided his perspective as a regional director of operations to the Times-Picayune stating, “For our customers, payday loans are often the most affordable and reliable option to get through unexpected financial hardships. Without this option, many families facing a temporary gap in their finances would not be able to pay some bills, or would be forced to choose costlier or less-regulated options.”
In an op-ed for The Advertiser, Jamie Fulmer, senior vice president of Public Affairs at Advance America, explained that “Payday loans help to bridge a gap in the credit market, and are a sound choice and an effective tool for many people.”
In a piece for the News Star, Troy McCullen, president of the Louisiana Cash Advance Association, warned legislators of the effects of over-regulation, saying, “If these laws are approved, many Louisianans would lose access to a service they count on to make ends meet.”
These pieces provide a critical perspective to the debate in Louisiana and correct misplaced criticism of the payday loan industry.