Montel Williams is the New Face of Predatory Lending - COLORLINES

Montel Williams is the New Face of Predatory Lending - COLORLINESMontel Williams is the New Face of Predatory Lending
by Jorge Rivas ShareThis | Print | Comment (2)
Thursday, February 11 2010, 1:27 PM EST Tags: pay-day loans, predatory lending

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Since his partnership with that crazy psychic Sylvia Browne didn’t work out, Montell Williams now has a new venture with “payday loans” provider Money Mutual.

According to Money Mutual:
“When it comes to financial assistance Montel Williams understands that people will find unexpected and needed expenses from time to time that are difficult to pay for due to lack of funds or credit.”


What they didn’t say is that he also has no problem taking advantage of folks in need and endorsing a company that loans money with 459% + APR rates.

It’s no accident Money Mutual chose Montell to endorse the company. Pay day loan shops are mostly in poor, predominantly Black and Latino urban neighborhoods where he’ll be easily recognized and more likely to make a connection with those who see the advertisements.

Renee over at Womanist Musings sums it up best:
Payday loan lending institutions are benefiting and Montel Williams is benefiting, while poor Blacks are once again footing the bill.