• Cycle of Debt
  • Predator
  • Banks
  • Fees
  • Regulated

Responsible lending, commitment to fairness.

The Community Financial Services Association of America (CFSA) is the national organization dedicated to advancing financial empowerment for consumers through small dollar, short-term loans. Now in its 12th year, CFSA was established to promote laws and regulations that protect consumers, while preserving their access to credit options, and to support and encourage responsible payday advance industry practices.

We believe consumers deserve choices with simple, understandable loan terms and to be treated fairly throughout the process. Whether on Capitol Hill or at the state houses, CFSA has led the way in working with legislators and regulators to pass strong consumer protection laws. We’ve raised standards throughout the industry with our Best Practices.

Which guarantees customers who cannot pay their loan back on time an Extended Payment Plan at no additional fee. Representing more than half of all payday advance locations, CFSA member stores provide a valued service to communities. Today, more than 19 million American households count a payday loan among their choice of short-term credit products.

We invite you

to learn more about CFSA’s commitment to stronger consumer protections, fair lending, and increasing credit access.
Continue Reading

30
Nov.
“For Me, It Works Well,” One Customer Tells NBC’s Today Show
One borrower talks about her positive experience when using a payday advance. Continue Reading
16
Sep.
Share Your Payday Loan Story!
The Today Show wants to hear from you! Go to the form, fill it out, and let them know about your unique customer experience. Continue Reading
24
Aug.
CFSA Responds to New Orleans Times-Picayune Editorial
The following comment can be attributed to D. Lynn DeVault, Board Chair of CFSA. Continue Reading
18
Jul.
Payday Lending A Tribal/State Battle?
Indian Country asks the question: Is it tribal sovereignty or a states’ rights battle? Continue Reading
7
Jul.
CFSA Releases Statement on Native American Partnerships with Payday Advance Companies
The following comment can be attributed to D. Lynn DeVault, Board Chair of CFSA. Continue Reading
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Affected by Natural Disasters

Affected by Natural Disasters

University of Chicago, finds that the existence of payday lenders benefits communities struck by natural disasters.Continue Reading

Best Practices

Best Practices

CFSA ensures responsible conduct among lenders, protects borrowers’ rights, and encourages self-governance of the payday advance industry.Continue Reading

Better Financial Footing

Better Financial Footing

If you are a consumer and have found yourself in financial straits, here are a few quick tips on how to rebuild or repair your credit history.Continue Reading

Can’t Compete

Can’t Compete

While FDIC considers its Small Loan Program a success, small dollar loans from banks cannot compete with the cost and ease of payday loans.Continue Reading

CFSA 2011

CFSA 2011

Now in its 11th year, CFSA is proud to offer a unique opportunity to take part in the payday advance industry's most powerful event.Continue Reading

Consider the Facts

Consider the Facts

Many prominent researchers have examined the payday advance, here is a look at some key findings.Continue Reading

Credit Unions Fall Short

Credit Unions Fall Short

The reasons why traditional financial institutions have been reluctant to offer payday loan alternative products.Continue Reading

Customer Bill of Rights

Customer Bill of Rights

CFSA’s member companies want to ensure its customers are treated fairly and understand the terms of their short-term loan.Continue Reading

Customer Demographics

Customer Demographics

Our customers are the face of America: Men and women with families and jobs. Continue Reading

Extended Payment Plan

Extended Payment Plan

CFSA members offer solution to help consumers needing more time to pay back their financial obligation.Continue Reading

Financial Education

Financial Education

CFSA members are deeply committed to empowering its customers with financial capability through MyStartingPoint.Continue Reading

Get Involved

Get Involved

Membership provides industry-leading benefits including a team of experienced federal and state lobbyists, and communications team that’s second-to-none.Continue Reading

Know Your Fee

Know Your Fee

The important info you need about the states in which the payday lending industry operates. Continue Reading

Know Your Rights

Know Your Rights

If you believe that a CFSA member company has subjected you to unlawful or unfair lending practices, submit a formal grievance to CFSA’s Ethics Committee.Continue Reading

Latest from CFSA 2011

Latest from CFSA 2011

Sign up for our e-mail list and get the latest annual meeting updates.Continue Reading

Membership Question?

Membership Question?

We encourages you to use this form for any inquiries you may have about membership that are not covered in our online membership information.Continue Reading

More Expensive Alternatives

More Expensive Alternatives

People who bounce checks & use overdraft protection do so at a higher frequency than the rate at which customers use payday loans and at greater cost.Continue Reading

Payday Pundit Blog

Payday Pundit Blog

The Payday Pundit offers critical insight on key trends and the latest policy initiatives and how the association is working to protect consumer choice. Continue Reading

Payday Reaches the Underserved

Payday Reaches the Underserved

while banks are aware of significant unbanked and underbanked populations in their market areas, the efforts to serve those customers have been minimal.Continue Reading

Preserving Credit Options

Preserving Credit Options

Study finds that, in states where “alternative” financial services, like payday loans, were available to consumers, households tended to pay less in fees.Continue Reading

Research at Your Fingertips

Research at Your Fingertips

Short-term credit resources that highlight the vital role the payday advance serves in providing millions of Americans with a viable credit option.Continue Reading

Restricting Harms Consumers

Restricting Harms Consumers

How paternalistic regulations would make consumers worse off and do little to protect them from concerns of over indebtedness and high-cost lending.Continue Reading

Seeking Credit Counseling?

Seeking Credit Counseling?

If you find yourself repeatedly falling short between paydays, it may be time to consider long-term credit solutions or credit counseling. Continue Reading

Speak at Our Annual Event?

Speak at Our Annual Event?

CFSA’s Annual Meeting and Conference Committee accepts speaker submissions on a rolling basis.Continue Reading

The Customer Profile

The Customer Profile

Misconceptions about consumers who use short-term payday advances are common, including the erroneous belief that they are “unbanked.”Continue Reading

The Economic Impact

The Economic Impact

A comprehensive study analyzing the economic impact of the payday loan industry nationally and in states with storefront locations.Continue Reading

We Are Here For You

We Are Here For You

If you are a payday loan customer and have a problem that you cannot resolve by working with your lender, call the Customer Hotline at 888.572.9329.Continue Reading

We Want to Hear From You

We Want to Hear From You

Thank you for contacting CFSA. We appreciate that you’ve taken the time to write us.Continue Reading

What Lawmakers Should Know

What Lawmakers Should Know

For a briefing about the payday advance industry service, would like to visit a store, or would like to arrange a meeting with local lenders, contact us.Continue Reading

Who We Serve

Who We Serve

CFSA is the national trade association for companies that offer small dollar, short-term loans or payday advances. Continue Reading

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Connecting With Our Communities

Managing household finances can be a daunting task. However, by using solid budgeting and savings techniques, you can accomplish major financial goals. In the Customer Resource Center, CFSA offers a variety of payday advance resources that support and encourage responsible lending practices, and highlight the vital role of our members’ stores in neighborhoods near you.

CFSA COMMUNICATIONS DEPARTMENT

As the voice of the payday advance industry, CFSA provides a variety of communications resources and multimedia vehicles that enable members, consumers, legislators, and the media to stay connected and up-to-date on key policy and regulatory issues. If you are a member of the press and need assistance, please call 888.572.9329 or click here to send CFSA’s Communications Department an e-mail.


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TO OUR MEMBERS

Thanks for visiting the CFSA Web site. CFSA values you as a member. Consequently, we are constantly seeking new ways to enhance your membership experience. As such, the information in this section is restricted to members only. If you are a CFSA member, please enter your username and password. If you have forgotten your login info, send an e-mail to Member@CFSAA.com.

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TO OUR PARTNERS

Here you will find an aggregate of industry research, comprehensive data, and benchmarking tools from the short-term lending industry. They cover all payday advance business areas – consumer demographics, media hits, the latest policy initiatives, among others. Click here to access to the partner's resource library.

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For Our Policymakers

CFSA works at the federal, state, and local levels educate legislators and regulators about the role of payday advances in the broader financial services arena. This section provides resources for policymakers who believe in access to credit, want to preserve financial options and ensure balanced, substantive consumer protections. Click here to enter the Policymaker Resource Library.