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!
Payday Loans, Tribes, Sovereign Nation and Internet Gambling
Washington D.C. and Nevada will soon be offering Internet gambling. More states are certain to follow if only because state tax coffers are running empty. The FED’s next moves aren’t clear. The DOJ just reversed its interpretation of the 1961Wire Act. Meanwhile, more payday loan Lenders are “partnering” with tribes. The legal “templates” for tribal [...]
How to Start a Pawnshop Business Franchise
If you have any interest in the Pawn Industry, read on. If not, DELETE NOW! The pawn shop industry is experiencing tremendous growth and prosperity in spite of having an image problem. Reality TV and tough economic times for the US economy during the next several years promises continued profits for pawn operators. TV shows [...]
Advertising-The Simple Methods Still Work with Payday, Car Title and Gold
Remember – the simple stuff still works! In the age of the Internet, IPads, smart phones, PPC programs like Google and Bing, text messaging, blogging, click-to-call, yada, yada, yada… the offline marketing channels still work great! This is true for both brick-n-mortar and online payday loan, cash advance, “pink-slip (car title) loans, scrap gold buyers [...]
Payday Loan-Matt Lauer NBC Payday Loans Not All Bad
Slowly, regulators, the media and other attack dogs are beginning to comprehend what payday loan consumers have known for years. That is, payday loan type products make sense under certain circumstances. Sure, they can be abused. So can credit cards. But no one has suggested credit cards be banned from the market place. Although my [...]
