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Consumer Alert ("Payday Lenders") #730872

CBS Evening News for Friday, Jun 13, 2003
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(Studio: John Roberts) Report introduced.

(Atlanta: Mark Strassmann) The business of “payday lenders,” who offer short-term loans for exorbitant interest rates, featured. [Loan victim Patricia HOBBS†- says she’s embarrassed about what happened to her.] [Consumer Federation of America Jean Ann FOX†- says payday lending takes advantage of consumers who have trouble making ends meet.] [Checks Into Cash spokesperson Mearl PURVIS-SMART†- says regulation is important.] [Georgia insurance commissioner John OXENDINE†- says some operators have been shut down.]

Reporter(s):
Roberts, John;
Strassmann, Mark
Duration:
00:02:50

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