Cash America 2013 Annual Report Download - page 21

As a leader in the short-term cash advance




These best practices include:
1. Full disclosure of terms and conditions to each customer
and abiding by all requirements of each state, including
the Federal Truth in Lending Act;
2. Compliance with applicable laws;
3. Truthful advertising;
4. Encouraging customer responsibility;
5. Limiting rollovers by the customer to four or the state
limit, whichever is less;
6. A one-day right to rescind at no cost to the customer;
7. Adherence to appropriate collection practices,
including applicable provisions of the Fair Debt
Collection Practices Act;
8. No threat of criminal action against a customer who is
delinquent on his or her account;
9. Enforcement of the industry’s self-policing best
practices and reporting violations to the proper authorities;
10. Support for responsible legislation of the industry that
incorporates these best practices;
11. Offering customers an extended payment plan;
12. Internet lending licensed under state law where
customers reside, where required; and
13. Display of the CFSA membership seal to alert customers
of the store’s afliation with the CFSA and the store’s
adherence to these best practices.




needs. 


an important source of much-needed capital from a



cashamerica.com.






$410
$390
$370
$350
$330
$310
COMPARATIVE DATA
Average Insufficient Funds/Overdraft Protection
Paid Per Banked Household
USA States
w/o Cash
Advance
States
with Cash
Advance
Source: Bretton Woods, Inc.; 2009 Analysis of Bank and Credit Union
NSF/ODP Programs, published February 2010.
$376
$407
$361
$60
$50
$40
$30
$20
$10
$0
CONSUMER
’
S CHOICE
A Comparison of the Alternatives: Payday Loans (PDAs) Are Cheaper;
The Consumer Gravitates to the Best Deal
$100 Payday
Advance $100 Utility Bill Late/Reconnect
Fees
Credit Card
Late Fee on
$100 Bill
Bounced Check +
NSF Merchant Fee
on $100 Transaction
Source: Community Financial Services Association of America.
$15 Fee
$46 Fee
$56 Fee
$37 Fee
Acting responsibly and serving customer needs
Proud Members Of:
Community Financial Services
Association of America (CFSA)
www.cfsaa.com
Online Lenders Alliance (OLA)
www.onlinelendersalliance.org
Consumer Finance
Association (CFA)
www.cfa-uk.co.uk
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