Washington State DFI Report Shortsided – Payday Loans
“Report shows Payday Lending Law is helping keep people out of debt” – All the Washington regulators did was shove Washington payday loan customers into the hands of unlicensed internet and tribal Lenders! The Washington DFI has no clue how many payday loan transactions are completed online. Nor does the DFI know the APR’s, the [...]
Payday Loan Tribe Model Attacked
We all know the payday loan – tribe partnership model is highly controversial. It’s a strategy being evaluated by tribes having considerable wealth, “poor” tribes lacking gaming success, and sophisticated payday loan Lenders with superior management skills. State Attorneys General, the Fed’s, legal counsel and our industry is watching this develop. Ultimately, when constructed in [...]
Indian Loans-Indian Reservation Loans-Indian Payday Loans…
WOW! Interesting at least to me. This payday loan industry blog receives a LOT of daily traffic. I just happened to look at the top keyword searches. Here they are: “Indian loans-indian reservation loans-indian payday loans…” Our telephone inquiries and emails reflect this as well. There’s a TON of interest by Lenders, tribes, the media, [...]
Banks, Payday Loans and Competition
From Optirate, “Banks have the misfortune to be confronting the discounters just when marketplace and legal changes are drying up some of their traditional revenue sources, like packaging sub-prime mortgages and gouging people with overdraft fees. An economist at a bank regulatory agency (who asks for anonymity) estimates that $25 billion a year of [...]
Payday Loans Are Like Coconuts? You’ve got to be kidding!
I love to talk about the loan shark… I mean payday loan and micro-lending industry. I’m lucky! I receive calls and emails from around the world. So… I’m talking to Charlie B., a silicon-valley buddy of mine who’s been exploring the micro-lending space for a while. He begins to tell me about his trip to [...]
