CFSA Members Adopt Customer Warning Notice
New Best Practice Encourages Consumer Responsibility
CFSA encourages full disclosure among all of its members. In addition to abiding by laws stipulated through the Truth in Lending Act (TILA) and relevant state laws, CFSA members are self-imposing a requirement to affix the following Customer Notice on all advertising and marketing material.
Best Practice: Encourage consumer responsibility.
A member will implement procedures to inform consumers of the intended use of the payday advance service. These procedures will include the placement of a “Customer Notice” on all marketing materials, including all television, print, radio and on-line advertising, direct mail and in-store promotional materials.
Customer Notice
Payday advances should be used for short-term financial needs only, not as long-term financial solutions. Customers with credit difficulties should seek credit counseling.
CFSA members click here to view Consumer Responsibility guidelines. »
