Operation Choke: 10 Civil Investigations Opened

By | May 29, 2014

Operation Choke Point continues to create controversy. Legitimate businesses are being attacked by the Obama administration. Having experienced difficulty in shutting down small dollar credit lenders directly, the administration is targeting vendors and processors who “enable” lenders to serve their customers. By Alan Zibel and Andrew R. Johnson The U.S. Department of Justice has opened […]

Share

Payday Loan and Collections CFPB Report: $70M Refunds to 775,000 Borrowers

By | May 22, 2014

CONSUMER FINANCIAL PROTECTION BUREAU SUPERVISION REPORT HIGHLIGHTS RISKY PRACTICES IN NONBANK MARKETS Overall CFPB Supervision Activities Return More than $70 Million to 775,000 Consumers WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today issued a report highlighting illegal actions uncovered by the Bureau’s supervision of the payday, debt collection, and consumer reporting markets. These […]

Share

Car Title Loans: Multi-Payment versus Single Payment

By | May 19, 2014

Car title lenders have begun making car title loans structured as multi-payment rather than single-payment loans. Some examples: In Texas, according to the OCCC, in the third quarter of 2013 more than 20% of borrowers refinanced their car title loan in the same quarter the loan was made. In Virginia, there is a minimum loan […]

Share

Employer Sponsored Workplace Cash Advances

By | May 19, 2014

It’s a fact: 40+ million U.S consumers are underbanked! Stats are all over the map but approximately 65% of consumers can’t lay their hands on $1000 to meet an emergency. These folks need, want and demand access to cash. Someone has to develop alternative, transparent, financial products. Not only must innovative financial products be developed […]

Share

Operation Choke Point: In the News Again

By | May 16, 2014

Politico.com reports: $3-5 MILLION CAMPAIGN TO COMBAT ‘OPERATION CHOKE POINT’ “The United States Consumer Coalition (USCC) is preparing to launch a $3- 5 million campaign to fight the Obama administration’s “Operation Choke Point,” a joint Justice Department, FDIC, and Treasury initiative that targets third-party payment processors who are considered “high-risk merchants,” including payday lenders.”

Share

Next Page »

© 2009-2019... Payday & Title Lending, - Payday Loan Biz Resources & Courses How to Start Title Loan Business Website Legal Terms Disclosure
Share
Share