THE BLOG

17
May

FTC-More Great News for Payday Loan Customers, Lenders & Businesses in General

And the news just KEEPS ON GETTING BETTER for payday loan customers and their service providers.

A new leader at the FTC once defended payday lender AMG Services

In 2012, Mr. Smith was also part of the legal team that defended AMG Services, the payday lender founded by the Scott Tucker.

“It’s outrageous the F.T.C. would pick the lawyer for a criminally convicted racketeer’s payday loan company as consumer protection chief,” said Senator Elizabeth Warren, Democrat of Massachusetts, who opposed Mr. Smith’s selection.”

“The agency should pick someone with a track record of protecting consumers, not companies that cheat people.”

ISN’T LIFE GREAT  😛

Here’s a link to the full story: Payday Loan Lawyer Heads FTC.

PS: Need a bank account, ODFI or high risk merchant processing for your business? Start here: Banking & Processing

 

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17
May

Bank Accounts for Payday Loans, Car Title Loans, CBD, & High Risk Merchants

May 16th, 2018. Two new ODFI’s, lender bank accounts and an extremely competitive payment processor available to serve you TODAY!

Need banking and processing for your high risk payday lending, car title loan lending, cannabis transactions, Image Cash Letters [ICL], CBD oil, MLM, ECig, and Nutraceuticals merchant processing…

ALL at extraordinary rates and zero reserves? Reach out to me! [Inquiry Form below.]

Having been in one of the highest risk verticals for 20+ years – online payday loan lending – it’s been easy for my Team to on board other high risk verticals in need of banking and processing. This includes tribe lending [TLE’s], processing CBD, MLM, ECig, and Nutraceuticals… That’s right!  CBD, kratom, Nutra, and Ecig businesses; all the high risk merchant processing your bank and merchant processor are “uncomfortable” with.

ODFI With Payday, Title & Personal Loan Processing Rates

ACH PROCESSING FEESNew rates and ODFI's effective May 16,20182 New ODFI's Avail. 
NOTE 1: For Tribal Lending Entities (TLE's) a Bank Depository Account WILL be provided.
NOTE 2: Debit & Credit Card Processing is Available.
NOTE 3: We have MULTIPLE ODFI's available for TLE's, Payday, Title...
NOTE 4: No reserves. 3 day hold
Credit Origination$0.75
Rejected Transaction$1.00
Credit Return$2.75Discount%0%
Credit Late Return$2.75Per Prenote$0.30
Credit Chargeback$2.75
Debit Origination$0.75
Debit Return$2.75Monthly FeesN/A
Debit Late Return$2.75ACH Platform Access Gateway$35.00
Debit Chargeback$2.75Monthly Bank Fee$35.00
Notice of Change [NOC]$1.50
NOC Auto-Correction$2.50
Incoming Wire$6.00Application Fee$100.00
Outgoing Wire$25.00Setup Fee$0.00
Returned Settlement$6.00
Un-Authorization$2.50
NOTE 4: Rates are negotiable for high transaction volume.

Bank for payday loan business

Want to learn more about our ACH processing, Push loans to consumer’s phones, Credit & Debit card processing,  ICL [Image Cash Letter] money transfer solutions, bank accounts [ODFI], RDC [Remote Deposit Capture] and more?

Tribe and state models approved!

We can assist you with all your needs.

Let’s schedule a call to better understand your needs and our services!

Fill out my online form.
YOUR PRIVACY IS GUARANTEED!
Your information will only be sent to Jer at Trihouse!!
We ALWAYS act as if an NDA is already in place!
Jer: 702-208-6736 TrihouseConsulting@gmail.com

Has Compass, Kabbage, Wells Fargo, Chase, Bank of America… terminated you? Have you received an “ACH processor Termination Letter” from your Banker? Your ACH processor? No worries! When 35 million consumers demand access to a product, entrepreneurs always find a way.

There’s a fix for this! If you need an alternative to ACH, I’ve got it. Reach out. It’s cheap, proven and works.  Want more info?

Push-funds to borrowers: We have the system! This is huge!

Credit & debit card processing. We specialize in the payday loan, signature lending, small dollar loan vertical.

You know the PDL industry has been “on the ropes.” Dollar delivery systems have been under heavy attack. President Obama launched “Operation Choke Point” and multiple AG’s have squeezed lenders hard. BUT, President Trump is in charge now  🙂  Everything in the payday loan industry is improving daily. Even the publicly traded payday loan’installment and signature loan companies are performing MUCH better and recording huge increases in transaction volume and profitability. The CFPB is crashing and burning!

And, in spite of all the “noise,” millions of consumers continue to “vote” every day to employ our products to solve their financial challenges. Likewise, savvy payment processors and banks launch new, exciting, state-of-the-art money transfer conduits enabling lenders to continue to service our demographic.

ACH for payday loans

Today, I announce money transfer solutions worthy of your consideration:

  • Bank accounts
  • ACH for tribe and state licensed lenders
  • PIN debit
  • PINless debit
  • EFT
  • ODFI’s in the USA
  • ICL
  • Credit cards
  • PDL operating accounts
  • 7 Methods for consumers to make a payment
  • Plug-n-play API’s
  • Legacy portfolio importation
  • Super competitive rates
  • And much more…

This is the future of money movement! 

ACH for Payday Loan Business

Trihouse has solutions available; each focusing on your specific need as an MSB, PDL or title loan lender.  As you know, Operation Choke Point, “bank discontinuance” and state/tribe licensing are all factors determining the most suitable banker, ACH provider and alternatives. Your rates, fees, rolling reserves, etc. are dependent on your business’s specific situation.

Invest 30 seconds of your time here and we’ll provide you with a direct line to our financial solutions provider.
To arrange a private, DISCRETE introduction to our “solutions” go here: Private Request for Intro.

Fill out my online form.

This will enable your Team to discuss your unique, individual needs directly with our processors. Note: The longer your Team waits to find out more, the closer you’ll be to the bottom of the stack of applications. This isn’t B.S. You already know bankers, ACH processors and state lending license issuers are BURIED!

TrihouseConsulting@gmail.com
Request a Private Introduction: ACH Solutions

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09
May

Again: Why Banks, Credit Unions & So-Called Consumer Advocates Hate the Payday Loan Industry

There are SO many excellent points made in this article on The Hayride that it makes little sense to do anything more than quote a few statements and provide a direct link:

And as RedState has noted, those people have been joined by Google. The internet giant, as it turned out, made a $1.5 billion investment into LendingClub, the peer-to-peer loan site, back in 2013 and has been on board with the assault on payday lending ever since. Payday lenders are not allowed to advertise with any of Google’s products or platforms, which is both (1) somewhat understandable given that they’re now competitors with Google to an extent, and (2) also the kind of creepy monopolistic practice which argues strongly for someone coming along and treating Google as a trust needing to be broken up like Standard Oil and Ma Bell. But we digress.

The long and short of this is during the Obama administration, some of the key funders of the Democrat Party – most notably a man named Herb Sandler, who together with his wife Marion essentially broke Wachovia Bank by dumping $15 billion in bad subprime paper on them before the housing crisis hit and who skated away from that mess with enough money to bankroll something called the Center for Responsible Lending – declared war on the payday loan industry around 2014.

And Forbes noted another nonsensical provision tucked into the 1,690 pages of the CFPB rule…

  • Exemptions made for alternatives to payday lenders, including credit unions and community banks: If a lender derives less than 10% of its revenue from payday loans, it is exempt from some of the most onerous rules. This particular restriction is odd. Why is the hated payday lending product acceptable, so long as the institution making the loan only generates 9.99% of its revenue from such activities? Are high rates and frequent rollovers acceptable when coming from a bank? Or is there a presumption that payday lenders are evil while bankers are not?

This whole attack on an industry providing a service people obviously find valuable is beyond obnoxious. On its face it’s literally insane – who are the Center for Responsible Lending and the Louisiana Budget Project to tell people who they can and can’t borrow from? And if they do win the day, does that somehow mean people won’t find a way to do short-term borrowing? Of course not, which is why this is so pernicious – once that hole in the market is made, not accounting for the Cosa Nostra or local dope dealer entering into the less-salutary side of the business Google will be there to fill it, if the government in the person of the Post Office or some other failing agency is not. You’d either have a private or public monopoly on short-term lending instead of a competitive marketplace like you have now.

Given how well the government performed via Fannie and Freddie in bringing on the housing collapse, we know how well it would work taking over the payday loan industry. As for Google, given their Big Brother-style presence in your life as is do you really want one of their tentacles to emerge as a monopoly in short-term lending? Think about that – who’s creepier than Google or the government when it comes to your private information, particularly your financial information in the event you should have the kind of money problems necessitating a payday loan? You OK with that?

Questions? Help? Getting started lending money to the masses? Jer@PaydayLoanUniversity.com

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