Summary
In December, an AP business writer, describing ceel as an organization diat advocates personal finance education, wrote about the results of its latest survey: Just a quarter of adults knew that overdrawing their checking account (bouncing a check) for a quick $100 was more expensive than a payday loan, credit card advance or emergency wire transfer. (Berman's Center for Consumer Freedom has blasted CRL as "the advocacy arm of a billion-dollar financial network," since Herb and Marion Sandler, whose World Savings Bank marketed risky subprime loans, helped to found the nonprofit.) Through the press, says King, ceel and other Berman groups are able to influence the debate without the public ever knowing they're hearing industry spin.
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Extract
Dr. Evil's Payday
Early one morning in late April, as the Today Show broadcast live from Rockefeller Center, a group of onlookers gave Matt Lauer a T-shirt emblazoned with the Web address Econ4U.org. "Scored a T-shirt here from these folks promoting economic literacy, which is really nice," the good-natured anchor said, displaying the shirt to nearly 6 million viewers. Little did Lauer know, but he'd been duped into providing that free advertising for a group that promotes payday le...
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