State of Oklahoma & 4 Tribe Lenders vs CFPB

By | Nov 10, 2017

The CFPB is attempting to usurp States’ Rights again! Yes, unelected bureauocrats attempting to make further inroads to payday loan lending and tribal sovereignty.

We’ve written about tribe lenders several times ever since the Wall Street Journal published their front page piece that quoted a founder, Jerry Ayles.

No need to write more on this matter today. Ballard Spahr does a great job with this piece on their Blog.

Unsecure4d Loan Business Consulting: Installment lending, payday lending, car title lending...

Unsecure4d Loan Business Consulting: Installment lending, payday lending, car title lending…

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MLA Military Lending Act and Payday-Car Title Loans

By | Oct 25, 2017

By: Jer AylesPaydayLoanIndustryBlog.com The MLA Military Lending Act, outlaws implementation of ARB arbitration agreements for consumer credit contracts entered into by active-duty servicemembers and their dependents.  Lenders are denied by the MLA from including arbitration agreements in contracts for small dollar loans, payday loan, title loans…  extended to active-duty service members and their dependents where the credit is a closed-end payday loan with a term of 91 days or less in which the amount financed does not exceed $2,000, a closed-end vehicle title loan with a term of 181 days or less, or a closed-end tax refund anticipation loan.  Additionally, these MLA rules apply to additional products, including credit cards, installment loans, private student loans and federal student loans not made under Title IV of the Higher Education Act, and all types of deposit advance, refund anticipation, vehicle title, and payday loans.

Get access to our resevoir of intellectual property at: Payday Loan Industry Resources

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TLE: Tribe Lending Enterprise – Term Sheets, Tribe Resolution, Pro Forma, Marketer/Servicer Agrrement

By | Sep 24, 2017
Allen Parker: Sovereign Matchmaker for Tribe Lending

Allen Parker: Sovereign Matchmaker for Tribe Lending

Tribe Sovereign Nation Documentation, Term Sheets & More

Do you need documents to form a tribe installment. payday. line-of-credit or car title loan company?

I offer term sheets, tribe loan portfolio pro formas, TLE and Tribe Economic Development word docs… everything a new lender or a “servicer/marketer” requires in order to legally and formally launch a tribe owned online loan business.

Many Native American Indian tribes have have authorized consumer financial services businesses as legitimate conduits for generating tribe revenue and develop Tribe’s economy to improve the Tribe’s economic self-sufficiency, to enable the Tribe to better serve the social, economic, educational, and health and safety needs of its members and visitors, and to provide its members with opportunities to improve their own economic circumstances.

In an effort to protect consumers, borrowers and their constituents, all Tribal Financial Service providers are required to be licensed as a Tribal business and by the Tribal Financial Services Regulatory Authority (“TFSRA”), and to adhere to the Tribal Financial Services Regulatory Code, as well as all applicable federal and Tribal laws and regulations.

Tribally Owned and Operated Financial Service Businesses

The Native American Financial Services Association (NAFSA), an advocacy association advocating for responsible payday, installment, title loan and line-of-credit loan products, notes that “tribal online lending provides a critical economic lifeline for sovereign tribes in remote areas.” Revenue and profits generated by tribe payday and installment lending arms is used to fund tribal infrastructure as well as cultural, youth, employment and health care programs.

Investment: $7500.00

Note: All Word Templates are editable for your private use.

  1. Template-Standard Tribe Resolution Creating a Tribally Owned Business
    1. A RESOLUTION OF THE GENERAL COUNCIL OF THE (name of tribe) CREATING AND ESTABLISHING THE TRIBALLY-OWNED BUSINESS (NAME) PURSUANT TO (vesting power in General Council resolution) [Word Doc.]
  2. 3 year Pay Day Lender Loan Volume Projections
    1. (PDF Doc.)
  3. “THE RISKS AND BENEFITS OF TRIBAL PAYDAY LENDING TO TRIBAL SOVEREIGN IMMUNITY”

INTRODUCTION: [25 page PDF by Bree R. Black Horse J.D. candidate at Seattle University School of Law, and an enrolled member of the Seminole Nation of Oklahoma in cooperation with The American Indian Law Journal. Public Domain]

  1. Two Key Tribal Court Cases:
    1. While there have been many, many cases upholding tribal sovereign immunity over the years, two in particular are specific to tribally owned payday loan businesses. [4 page PDF]
  2. 3 Year Proforma.
    1. A 3 year tribe pro forma portfolio [Excel format]
  3. Boilerplate Marketing & Servicing Agreement
    1. Template for TLA & Marketer/Servicer arrangement with Revenue Share Exhibit A. [12 page Word Doc.]
  4. Consulting Agreement
    1. Template Consulting Agreement with Tribe Lending Enterprise [Word Doc]
  5. Resolution
    1. RESOLUTION OF THE GENERAL COUNCIL OF THE (name of tribe) VESTING ECONOMIC & COMERCIAL DEVELOPMENT IN THE GENERAL COUNCIL  [Word Doc]
  6. Car Title Boilerplate Agreement
    1. Example Marketing/Servicing Agreement with TLE [11 page PDF]
  7. Car Title Consulting Agreement
    1. Typical Consultant/TLE agreement specific to car title loan lending [6 page PDF]
  8. Typical Lenders Introduction and Compensation Agreement
    1. Example Tribe/Consultant introduction & revenue share term sheet [5 page PDF]
  9. Example Monthly Payments-Revenue Share Agreement
  10. Typical consultant – TLE revenue share statement [1 page PDF]
  11. Example of Typical Non-Recourse Promissory Note & Security Agreement
    1. Ordinary Borrower/Lender capital security agreement [4 page PDF]
  12. Lawyers’ View: Minimizing Regulatory Enforcement Actions Against TLE and Service Providers
    1. Important Factors in a Tribal Lending Relationship [3 page Word Doc]
  13. Frequently Asked Questions Regarding the Mechanics of TLE-TOB/Marketer-Servicer Collaborations
    1. Allen Parker responses to FAQ’s submitted by potential consultants, tribes, and providers of capital. [2 page Word Doc]
  14. Typical TOB Lenders’ License
    1. [19 page Word Doc] A financial services license authorizing the TOB to do business “THIS IS TO CERTIFY that, consistent with Section 4 of the Mahalo District of the North Dakota Tribe Tribal Financial Services Regulatory Act, the enterprise under the jurisdiction of the Mahalo District of the North Dakota Tribe has been licensed by the Mahalo District of the North Dakota Tribe’s Tribal Financial Services Regulatory Commission to provide financial services in furtherance of the Tribe’s economic self-sufficiency and political self-determination. It is…”
  15. Example Consultant- Lender Representation Agreement Boilerplate
    1. As titled, an example Consultant retainer/representation agreement [2 page Word Doc]
  16. Example Consultant- Lender Representation Agreement Boilerplate
    1. As titled, a template for consultant –services/marketer agreement [1 page PDF]
  17. Example Declaration of Servicer-Marketer Skill Set Submitted to Tribe
    1. As titled, a sample declaration to tribe regarding servicer/marketer skill set [1 page PDF]
  18. Template for Statement of Consultant-Servicer-Marketer Power Point Presentation to Interested Parties
    1. Editable Power Point presentation [12 page PP]
  19. Typical Tribe/Servicer/Marketer Credit Reporting Business Rules
    1. As titled, a phenomenal Excel list of go/no-go CRA implemented business rules [Excel 10 pages]
  20. Template for “Finders’ Fee”
    1. As titled, editable Finders’ Fee for use by Consultants [2 page Word Doc]
  21. Template for “Finders’ Fee”
    1. As titled. A second version of a Finders’ Fee
  22. Example Business Development Agreement
    1. As titled, editable template for business development agreement between TLE & Consultant [5 page Word Doc]
  23. Term Sheet
    1. As titled. [4 page Word Doc]
  24. TLE-Lender-Services/marketer Bank & Loan Flow Chart
    1. As titled, an visual of “how the money flows.” [1 page PDF]
  25. “Tips for Tribe Economic Directors”
    1. As titled, a public domain analysis for tribal economic development principles. [9 page PDF]
  26. Limited Solicitation RFP
    1. A typical Request for proposal submitted by TLE’s [2 page Word Doc]
  27. PDL Sovereign Nation Manual by Allen Parker
    1. An analysis of the TLE Model [8 page PDF]

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Prestamos: Payday Loans & Serving the Latino Market-No One Does It Well

By | Aug 16, 2017

Necesito Dinero Rapido?

Deed Money Fast?

Prestamo = Loan = Prestamos

[Excuse my lack of correct Spanish punctuation! It’s my keyboard AND my Spanish.]

What’s my point? Jump on your phone or your computer. Do a search in Spanish for keywords in all the various incarnations of payday loan, fast cash, personal loan, loan today…

You will not find any lender doing this right! And lead generators? They suck at it too.

Sure, there are a few lenders with a decent front-end; website and disclosures in Spanish. But name a lender who has invested in the back-end, an app, and is US based. Pathetic! Can you BEG your Loan Management Software provider to help you with Spanish contracts, emails, text messages, disclosures, SEO/SEM…? If you are out there, RAISE YOUR HAND LMS SOLUTIONS! Silence…]

Believe it or not, the 1st page Google results are in ENGLISH or lenders in Argentina! Talk about missed opportunities… Email Jer@TrihouseConsulting.com for more ideas on strategies for addressing the Latino market! And shameless plug: Get up to speed with the payday, installment & line-of-credit lending here: “The Manual.” It’s so big it’s SCARY. Basics, strategies, tactics, the latest developments…

Give it a shot. Try “prestamos hoy.” or “prestamos personales.”

Oh, PS: Are you a buyer of payday loan leads in Arkansas? West Virginia? They’re cheap! Reach out… TrihouseConsulting@Gmail.com

Prestamos-Personales-Google-Trends
Prestamos-Hoy-Google-Trends-2

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Operation Choke Point: Court Orders FDIC to Turn Over Docs to Payday Loan Industry Assoc.

By | Jul 28, 2017

FDIC Ordered to Turn Over Documents in Operation Choke Point Lawsuit to PDL Industry Assoc.

‘Time for DOJ and FDIC officials to get a lawyer!’

The Federal Deposit Insurance Corporation (FDIC) was ordered to turn over documents related to Operation Choke Point late last week.

District Court Judge Gladys Kessler told the government agency it had to begin working with the plaintiffs in the case for a nine-month discovery period beginning on June 20, 2017. “There is no justification whatsoever for not granting Plaintiffs’ Motion to Commence Discovery Immediately,” Judge Kessler said in her order.

Payday Loan Industry – The order comes after the Community Financial Services Association of America (CFSA) and a group of financial services companies filed suit against the FDIC over their conduct during Operation Choke Point. Under that operation banks were allegedly pressured into cutting ties with industries the Obama-era agency viewed unfavorably. Payday and other short-term lenders as well as those involved in the firearms industry said they were specifically targeted under the program.

The firearms industry has been particularly vocal in its opposition to Operation Choke Point. The National Rifle Association and other gun-rights groups have called the operation an attack on the industry.

Stupid things payday lenders do“‘Operation Choke Point’ is an Obama Administration initiative that encourages federal financial services regulators to harass and intimidate banks and financial institutions that work with firearm and ammunition retailers,” the National Rifle Association said in February 2016. “By leaning on the banks, regulators hoped to bring an end to those relationships thereby choking off their cash flow and forcing them out of business. A 2015 Congressional Investigation revealed that ammunition and firearm sales and dealers had, in fact, been targeted.”

CFSA said they were happy with the court’s order and believe the documents they will receive during discovery will shed light on whether the FDIC forced banks to deny certain businesses their services and, if so, how they chose which industries to target.

“We are thrilled by the Court’s order to enter the discovery phase, as this illegal federal program has been unduly harming legal entities for years,” Dennis Shaul, CEO of CFSA, told the Washington Free Beacon. “This court order allowing discovery will now finally enable the plaintiffs to access records of the federal government’s behind-the-scenes and secretive campaign to force banks to terminate their relationships with lawful American businesses. It is high time that the government’s unlawful and unjust crusade against lawful and licensed businesses be stopped. The federal regulators leading Operation Choke Point have threatened and pressured banks in the shadows of the law for far too long.

“The government defendants are well aware they have been on the wrong side of history for years and will stop at nothing to hide the extent of their illegal campaign. The Court’s ruling will allow these shady and criminal actions to be brought to the light of day.”

“The decision to grant discovery is probably the most important victory in the entire case, likely more important than the final judgment.”

Read this Report in FULL here: FreeBeacon.com
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