In hundreds of pay-day loan stores across
“We are concerned about our perception, and we're not a bunch of loan sharks that are just out to line our pockets with cash. We actually care about the consumer," Scott says.
He’s helping spread the word about the Borrow Smart Alabama campaign which sets a code of ethics for pay-day loan operations. It's centered on fair lending, up-front pricing and clear rules for re-payment, along with other commitments posted along with a green seal of participation in loan shops involved with the program.
“We don't want to loan the customer any more than they can pay back. We don't want to be a burden on the customer. It doesn't do us any good, or the customer any good if they can't pay us back," Scott says.
“They can be assured that we do follow all the state laws as far as roll-overs and interest rates and the data-base check we have to adhere to," Scott explains.
The goal is to clean up and build consumer confidence in the pay-day loan industry, and educate customers.
“We're trying to teach … to borrow smart. We're here to help them in times of need but we're not a long term lender, we're short term lenders," Scott says.
More than 200 pay-day loan businesses across
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