To push back against criticism of the pay-day lending industry, W. Allan Jones, the high-living pay-day lender entrepreneur we’ve told you about, has turned to blogging. In his only post so far, the Tennessee multimillionaire and founder of the pay-day lending giant Check Into Cash, Inc., defended the industry’s sky-high annualized interest rates.
As we’ve reported, Jones co-founded the Community Financial Services Association (CFSA), an industry trade group that played a key role in convincing Congress to weaken provisions in the financial regulatory reform bill intended to crack down on the industry’s predatory lending practices.
Jones isn’t alone blogging to improve public perception of pay-day lenders. CFSA runs the blog PayDayPundit.org, a frequently updated digest of news and opinion on the pay-day lending industry.