Greg Pacheco, vice president of advertising for AccountNow, stated it absolutely was unjust to characterize iAdvance as predatory. He also stated that it is appropriate to try and offer credit items in the cards.
“I think the item we’d provided was substantially less expensive than pay day loans,” he said. Charges for iAdvance, he said, amounted to $12.50 per $100, while pay day loan costs can run from $17 to $30 per $100.
Pacheco stated that “there’s a concern that is general benefiting from the underserved’’ that makes regulators wary.
