Payday Loan Industry-Opportunities, Challenges and Respect
Jer here. My rant today targets the multitude of opportunities in the payday loan space. Capital is simply a commodity! Ask what your financier brings to the table in addition to dollars. This isn’t a short analysis. You want superficial B.S? Click away now . Pay the price, invest 5 minutes of your time and [...]
Bankers Can Learn from Payday Loan Lenders
Payday loan lenders get a little respect! Michael Moebs, CEO of Moebs Services, was quoted in American Banker as follows: “Banks can learn from payday lenders’ streamlined lending approach, says Moebs. “The thing that I’ve admired about that industry is it’s extremely efficient. They would make a banker’s head spin with how fast they can [...]
CFPB Payday Loan Short Term Small Dollar Lending Examination Report
This from the CFPB website January 19, 2012: Today, the Consumer Financial Protection Bureau traveled to Birmingham, Ala., for our first field hearing. We gathered to discuss and collect information on payday lending. The payday lending market is a multi-billion dollar industry in the United States, and Alabama has one of the largest concentrations of [...]
A Tribal Perspective on the Payday Loan Industry
SaveTheTribe.org offers some compelling commentary regarding why the payday loan tribal (Sovereign Nation ) model is under attack. Here’s a portion of the Post at their Blog: “There are over 22,000 payday loan stores in the United States. Regardless of protests from consumer advocates this is clearly a product with high demand. The majority of [...]
PDL Convention-CFSA Community Financial Services of America
I’ll be at the March CFSA 2012 so call/text if you want to meet up and buy me a glass of vino ) If you’re currently in the payday loan space, or you plan to be, you must attend CFSA 2012. Here’s a link to check it out: CFSA Event For the password to enter [...]
Payday Loan Arbitration Agreement Enforceable
Payday loan industry wins again! A binding arbitration provision that barred a Wisconsin consumer from pursuing a class-action lawsuit against a payday loan lender is enforceable. Read the article here: Cottonwood Financial Ltd. v. Estes That’s what the District III Wisconsin Court of Appeals concluded; Federal law preempts state law!
