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And a Leader when you look at the Payday Lending Industry

And a Leader when you look at the Payday Lending Industry

Adams Helps in the Board Of Community Financial Services Association Of America.

  • Adams, Contributed $10,000 at a Bahamas Fundraising Event Organized by the Community Financial Services Association for Ohio Senate Candidate Josh Mandel. “This split campaign committee, as it happens, has also been the conduit for contributions from payday loan providers who went to a Mandel fund-raising event when you look at the Bahamas during the early March. Mandel’s campaign in March failed to launch the take from that occasion. But Federal Election Commission filings through the Mandel Senate Victory Committee now reveal that this solitary occasion raised at minimum $67,000 from payday loan providers and their PACs. Checks came from professionals and PACs representing such businesses as Advance America, $15,000; Axcess Financial (whoever holdings consist of Check ‘n Go), $10,000; Speedy money, $5,000; CheckSmart, $10,000, and QC Holdings (aka fast Cash), $10,000. C. Dan Adams, a board person in the team sponsoring the Bahamas occasion, the Community Financial solutions Association of America, provided $10,000. Mandel additionally provided a message during the industry meeting, their campaign stated. Experts associated with the industry state that with accrued interest, payday advances can stick borrowers with rates of 300 per cent and much more. Lenders say that as bankers of final resort, they push away evictions plus the repo guy giving consumers money when they require it the many. The industry happens to be fighting efforts that are ongoing states to restrict its methods. The payday efforts within the Bahamas usually do not add a $30,000 donation provided in February by Lee Schear of Dayton, whose monetary solutions business has a joint venture partner, NCP Finance, that funds payday advances.”

Adams Also Served as Chairman for the Board of a Bank That Failed – Cost FDIC $75 Million

For decades, Adams Served as a known member of this Board of First National Bank for the South Including Chairman associated with Board