Payday Cash Lenders Best Practices FastWireCash.com

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Consumer Notice:
Payday advances should be used for short term finacial needs only, not as long-term financial solution.
Customers with credit difficulties should seek credit counseling.

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Best Practices - Part II

No Criminal Action. A member will not threaten or pursue criminal action against a customer as a result of the customer's check being returned unpaid or the customer's account not being paid.
Enforcement. A member will participate in self-policing of the industry. A member will be expected to report violations of these Best Practices to CFSA, which will investigate the matter and take appropriate action. Each member company agrees to maintain and post its own toll-free consumer hotline number in each of its outlets.
Support Balanced Legislation. A member will work with state legislators and regulators to support responsible legislation of the payday advance industry that incorporates these Best Practices.
Extended Payment Plan. A member will comply with a separate code of Best Practices for Extended Payment Plans, which provides customers who are unable to repay a loan according to their original contract, the option of repaying the loan over a longer period of time at no additional charge. A customer shall be allowed to utilize an Extended Payment Plan at least once in a 12-month period. A member will adequately disclose the availability of the Extended Payment Plan to its customers.
Military. A member will comply with a separate code of Military Best Practices that addresses the unique circumstances of active duty military customers. These special consumer protections include, among others: a prohibition on the garnishment of military wages or salaries and on contacting the military chain of command to collect payment; and the establishment of financial literacy initiatives that will benefit service men and women.
Internet Lending. A member that offers payday advances through the Internet shall be licensed in each state where its payday advance customers reside and shall comply with the disclosure, rollover, rate, and other requirements imposed by each such state, unless such state does not require the lender to be licensed or to comply with such provisions, or the state licensing requirements and other applicable laws are preempted by federal law.
Display of the CFSA Membership Seal. A member company shall prominently display the CFSA Membership Seal in all stores to alert customers to the store�s affiliation with the association and adherence to the association�s Best Practices.

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