“Personal installment loans are often a critical lifeline for borrowers with limited credit options, allowing them to pay for unexpected expenses or to consolidate debts.”

“In both rich and poor countries alike, credit institutions have favored the rich and in so doing, have pronounced a death sentence on the poor… "

“We recognize the need for emergency credit. At the same time, it is important that these products actually help consumers, rather than harm them.”

“Payday borrowers strongly support requiring the loans to have affordable installment payments.”