Cash America 2009 Annual Report Download - page 23

What our customers say:
“These loans are extremely important to
me…. There is no way I could get a bank
loan. And with no friends or family to help
me, I would have been evicted from my
apartment.”
–Theresa B., Texas
“I don’t mind paying fees on a short-term
loan. It is usually smaller than late fees
elsewhere.”
– John S., Utah
“I’m a customer of Cash America….
Finding someone to help in this recession
is a blessing. The money has helped me
in the hard times since I retired.”
– Laura B., Illinois
“I have been a customer of Payday
Advance for a while now and they have
saved me on a number of occasions. My
carpet was flooded and [they] helped
me clean up my house. When a relative
passed away, I borrowed money to attend
the funeral.”
– Nathan M., Texas
“I have used Cash America Pawn when I
needed money for bills, food, etc. I feel
it is much better to be able to buy my
things back than sell them for good.”
– Edward R., South Carolina
“Payday loans have helped my family
when we have been in a tight spot. We
have no wealthy family members to ask
for assistance.”
– Mary C., Missouri
Independent studies and reports
Regulation and Bans
Consumers Fare Worse Under Payday Loan Bans: Research
from Georgia, North Carolina and Oregon Shows Harm by
Federal Reserve Bank of New York Research Officer Donald P.
Morgan and Cornell University graduate student Michael R. Strain.
Restrictions on Payday Loans Do More Harm Than Good by
Researchers at George Mason University and Colby College.
Pricing
The Cost of Providing Payday Loans in a U.S. Multiline
Operator Environment by Ernst & Young.
Payday Lending: Do Outrageous Prices Necessarily Mean
Outrageous Profits? by Aaron Huckstep, Fordham Journal of
Corporate & Financial Law.
Defining and Detecting Predatory Lending by Federal Reserve
Bank of New York, Staff Study.
Demand for Short-Term Credit
Expanding Credit Access: Using Randomized Supply
Decisions to Estimate the Impacts by Dean Karlan, Yale
University, and Jonathan Zinman, Dartmouth College.
Payday Lending: A Practical Overview of a Growing
Component of America’s Economy by Consumer Credit
Research Foundation.
Payday Lending Alternatives
2008 Fee Analysis of Bank and Credit Union Non-sufficient
Funds and Overdraft Protection Programs by Bretton Woods, Inc.
FDIC Study of Bank Overdraft Programs by Federal Deposit
Insurance Corporation.
Customers
An Analysis of Consumers’ Use of Payday Loans by Gregory
Elliehausen, Federal Reserve System and Financial Services
Research Program.
The Georgetown School of Business – Pawnbroking in the U.S.:
A Profile of Customers by Georgetown School of Business,
Georgetown University, Credit Research Center.
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Cash America International, Inc.