member profile picture

Posts: 7936
Credits: 122493.35

[quote]November 21, 2007

Are You a Member of the PLA?

If you keep up on payday loan news at all, then you have probably at least heard of the CFSA. The Community Financial Services Association of America is the nation’s largest trade organization of cash advance lenders, and one of the fast cash loan industry’s biggest supporters and financial backers. Many states facing legislation of these ubiquitously unpopular, short-term personal loan products have spun off their own coalitions, including the District of Columbia Financial Services Association (DCFSA) and, most recently, the Arizona Financial Services Association (AFSA). These associations claim to be pro-consumer, and allege to want to help lawmakers establish “equitable” payday loan legislation. It isn’t a stretch to see where this claim could seem spurious to naysayers.

Hence, the rise of “The Predatory Lending Association,” or PLA. No, you aren’t misreading that. The PLA is a spoof of cash advance lending trade groups, based around the website created by humorist Mike Mathieu. If you are familiar with The Onion’s broad satire, then you will get the point. This faux fast cash loan loan industry association’s mission statement is, “to [extract] maximum profit from the working poor by increasing payday loan fees and debt traps.” The statement goes on to “reclaim” the word “predator,” by pointing out that the very patriotic American Eagle is one, and embraces the working poor as “an exciting, fast-growing demographic.”

Payday loan opponents will undoubtedly find more than a trace of dark humor in the PLA, but real cash advance personal loan industry leaders are unlikely to be amused. This lampoon of the burgeoning American fast cash loan industry also features a Google-style map tracker showing clusters of lenders in poor neighborhoods and around military bases[/quote]

The website is hilarious!

Some of the stuff on it:

Sub: #1 posted on Wed, 11/28/2007 - 21:51

goudah2424 goudah2424

(Posts: 7936 | Credits: 1224.93)

Good post goudah!

Sub: #2 posted on Wed, 11/28/2007 - 22:06

volleyballmom volleyballmom

(Posts: 4143 | Credits: 284.52)

I was surfing the "net" and simply typed in predatory lender
and to my horror or shock I found this PLA web site.Like goudha I found this site humorous but dark as well.They talk
about racial profiling etc. and how to keep the unwitting
consumer in a unending spiral of debt.Unbelievable but it is
a sad road that our working class citizens are headed down.
I hope that anyone out there is considering a loan with these
"establishments" will come to this website first rather than later.

Sub: #3 posted on Wed, 07/23/2008 - 21:23

stevekathy4867 stevekathy4867

(Posts: 68 | Credits: 26.96)

Great Post and interesting reading!

Sub: #4 posted on Wed, 07/23/2008 - 21:27

llw1995 llw1995

(Posts: 1422 | Credits: 149.03)

hmmm it makes me wonder if maybe it is a "fake" website? I mean it is things we all would THINK they would say, and maybe it is real, but to have it all there in writing is just a bit suspect to me ....

of course maybe I have blinders on?

Sub: #5 posted on Wed, 07/23/2008 - 21:47

smo65d11 smo65d11

(Posts: 1468 | Credits: 133.12)

Great post Goudah! I loved it! I can't wait to get home and peruse the website myself. I agree with Stevekathy, wouldn't it be great if everyone considering PDL's would have to come here first.

Sub: #6 posted on Wed, 07/23/2008 - 21:50

jennifer_bailey75 jennifer_bailey75

(Posts: 154 | Credits: 19.82)

smo - It is a "fake" website :D

Sub: #7 posted on Wed, 07/23/2008 - 22:06

goudah2424 goudah2424

(Posts: 7936 | Credits: 1224.93)

LOL oh okay, I was in a hurry when reading the post and I didn't actually look at the link where it is probably a lot more clear that it was fake.

Glad humor can be brought into play here!

Sub: #8 posted on Wed, 07/23/2008 - 22:37

smo65d11 smo65d11

(Posts: 1468 | Credits: 133.12)

We can only wish that these lenders were that transparent!!! :D

Sub: #9 posted on Wed, 07/23/2008 - 22:41

goudah2424 goudah2424

(Posts: 7936 | Credits: 1224.93)

Love the Poor Finder! Thats great!

Sub: #10 posted on Wed, 07/23/2008 - 22:58

Moderators Cum Industry Expert
(Posts: 4665 | Credits: 308.23)

More information
  • Files must be less than 500 MB.
  • Allowed file types: txt pdf jpg jpeg png.

Share post

Page loaded in 1.148 seconds.