07/25/2023
https://www.congress.gov...
"If the concern we have is about a product that is designed to ensnare people in repeat loans over time so that it is possible to extract from them 200 percent interest, then it seems to me that Ms. Sm..."
"I think it is a positive thing that we charge half of what a payday lender charges."
"I understand ways in which it is more effective than a payday loan, but what I do not understand is your statement about how this is not a payday loan."
"Thank you, Ms. Smith."