As short-term loan customers and voters, we are not crying out for reform. The fact is, an overwhelming majority of short-term loan customers are satisfied and value the products and services provided by Credit Access Businesses.
The liberal activist playbook is to parade around the very few disgruntled consumers to the left leaning media to manufacture a crisis while ignoring all statistical data that suggests a different story.
These people are outliers. For every disgruntled customer, there are hundreds that value short-term credit services.
Every industry has disgruntled customers, but based on complaint data published by the Consumer Financial Protection Bureau (CFPB) and the Texas Consumer Credit Commissioner’s Office (OCCC), the short-term lending industry has the lowest rates of complaints per transaction of all the different financial services – banks, credit unions, mortgage companies, credit cards, etc.