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FOR FAIR LENDING (CFL)
CFL was formed by concerned members of both the
Title Pawn Council of
Alabama (TPCA) and
Modern Financial Services.
These two associations represent title and
payday lenders in Alabama (short term lenders). Our mission is
customer focused. Our goals are: 1) that each and every one of
our customers are treated fairly in all of their dealing with us and
2) that the truth about our
industry, our services and, most importantly, our customers are
communicated to the public in a fair and balanced way. We have
a moral obligation to provide a forum for our customers to express
their views about the use of our services. These are the
people who use and depend on our services every single day.
They typically have no voice in the shrill debate about short term
lending led by our competitors and their friends who only have one
mission -- our demise by any means for their own self-serving
focus is at the grass-roots level where issues about our customers
and our industry are decided.
CFL strongly supports both
industry associations and we hope to compliment and build on the
efforts of both. We aim to:
Code of Fair Lending for consumer protection
which is available exclusively at Borrow Smart member stores
throughout the state.
Serve as a
public communication entity for the short term cash
loan industry in Alabama -- both payday and title lending.
communicate, advertise and promote the Borrow Smart concept through
an aggressive media and public relations effort.
TPCA and Modern Financial members are eligible
to join CFL.
Since our public launch in the
fall of 2007, the response from the media and from others who watch
our industry has been incredible and has far exceeded our
expectations. We are finally getting the truth about our
industry and about our customers out to the general public.
And, they hear us. We have seen dramatic results from this
effort in a short period of time. This is, however, a long
term and continuing effort and we fully expect to be engaged in this
program for the foreseeable future.
Be sure you visit our Borrow
Smart Alabama web site (www.borrowsmartalabama.com)
to learn about the messages we are sending the public about our