The Color of Money. Local Payday Lender Hires Ebony Strategist to protect Its Image

February 15, 2021

The Color of Money. Local Payday Lender Hires Ebony Strategist to protect Its Image

George Griffin strode to the festively embellished First Hill branch of MoneyTree, a payday that is local, dressed up in blue jeans and a black colored blazer, nevertheless chatting into their ear bud. A couple of minutes later on the business’s owner and creator, Dennis Bassford, showed up, displaying a suit that is brown-gray no tie. Bassford hired Griffin summer that is last basically to accomplish basic news relations. But their projects quickly became extremely certain. Griffin, that is black colored, spends most of their time handling accusations that MoneyTree, a chain that is renton-based along with other payday loan providers have actually targeted minorities while the bad.

Neighborhood activists have actually launched a campaign that is legislative push for the 36 per cent limit on payday-loan rates of interest, which reach an almost 400 per cent annualized average in this state. Like similar efforts nationwide, the drive has honed in regarding the effect of this loans on minority communities. Communities Against Payday Predators, a neighborhood coalition supporting the limit, has aggressively pursued recommendations from minority leaders, and portrays lenders like MoneyTree ??” with bilingual tellers and television advertisements featuring African Us Us Americans ??” as preying upon the monetary vulnerability of the clients.

The industry has taken care of immediately the assaults. As well as Griffin, MoneyTree has employed two other spokesmen with links to minority communities: David Gandara, that is Latino, and Michael Shannon, that is black colored. very very Long a factor to state that is sympathetic (including Margarita Prentice, a Renton Dem who is gotten almost $1,000 in contributions from MoneyTree), the organization in addition has started adding money to regional minority nonprofits. Read the rest of this entry »