An interesting quote from Fed Chairman Bernanke in a speech to the Community Affairs Research Conference on March 30, 2007: "Nonbank institutions, such as payday lenders, check cashers, and remittance agents, are important sources of financial services in low- and moderate-income communities."
It seems rare to have a regulator single out payday lenders in a half-way positive light.
Monday, April 2, 2007
Interesting Quote from FRB Chairman Bernanke on CRA and Nonbank Financial Service Providers
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