The National Association of Attorneys General has come out against legislation that a provider of cash advances hired two law firms this summer to support.
The group on Friday sent to congressional leaders a letter that called on them to oppose the Consumer Credit Access, Innovation, and Modernization Act. The bill would establish a federal charter for “nonbanks” that serve individuals who have bank accounts but depend on alternative financial services, or who don’t have bank accounts at all. Cash America International Inc. this summer added Andrews & Andrews and Jones, Walker, Waechter, Poitevent, Carrère & Denègre to its lobbying roster, giving itself six firms to push for the charter, according to congressional records. The Fort Worth, Texas-based company during the first half of 2012 spent $460,000 on federal lobbying that focused on the charter.
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