CFSA Best Practices
Industry Reforms Prompt New Industry Best Practices
CFSA firmly believes that payday advance transactions should be conducted in a safe and responsible manner, with appropriate consumer protections. To that end, CFSA members abide by mandated Industry Best Practices to ensure responsible conduct among lenders, protect borrowers’ rights, and to encourage self-governance of the payday advance industry.
CFSA member companies are required to comply with Industry Best Practices that ensure consumer protections and responsible lending to all customers, including members of the military. As a condition of membership, members must abide by all CFSA Best Practices and pledge their commitment to them annually.
In addition, member companies are required to affix the CFSA Member Seal to the window of each store and prominently display CFSA Best Practices counter cards. Members are also required to provide each new customer with a CFSA Best Practices brochure.
The Basics
