New Study – Unbanked Pay $89 Billion in Fees

By | Dec 21, 2013

By Jer Trihouse – NEW YORK — Today, the Center for Financial Services Innovation (CFSI) and Core Innovation Capital (Core) released their third annual Financially Underserved Market Size Study. The new data reveals that revenue from interest and fees paid by financially underserved consumers rose 8% to $89 billion in 2012 from the previous year. […]

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Payday Loan ACH versus Check 21

By | Dec 20, 2013

By: Jer Ayler at Trihouse – For Small Dollar Lenders – Check 21 vs ACH Payments Payday loan, installment lenders, car title loan and collection companies are discovering it’s a challenge to maintain a <1.5% charge-back threshold as required by NACHA and ACH processors. Check 21 provides another option to ACH processing. So… for a […]

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Help a Reporter Out: How to File a Payday Loan Claim

By | Dec 18, 2013

By: Jer Trihouse. Your use of HARO (Help a Reporter Out) can be a good strategy for building relationships with reporters? Why do this? To build your brand, increase your “reach,” and become the “go to resource” for a reporter. Here’s an example of a HARO request I received today: Summary: How to File a […]

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How to Start a Car Title Loan Business – NOT

By | Dec 17, 2013

By: Jer Trihouse. Man, it’s good to be a state licensed car title loan lender! New York Attorney General Schneiderman Reaches Settlement With Auto Title Loan Company To Refund Interest On Usurious Loans And Forgive Outstanding Loan Balances   NEW YORK – Attorney General Eric T. Schneiderman today announced a settlement with an out-of-state company […]

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Future of U.S. Payday Loan Industry Rate Caps: Look Across the Pond

By | Dec 10, 2013

Regarding the future of U.S. payday loans: By: Jer Trihouse U.S. payday loan lenders need do no more than “look across the pond” for guidance. The U.K. has been advocating and implementing rate caps, “best practices,” affordability issues, roll overs, etc. for years. A stone thrown in the waters in the U.K. typically generates a […]

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