New York Times: Banks Enable Payday Loans

By | Feb 24, 2013

Jer Ayler - TrihouseJessica Silver-Greenberg at The New York Times breaks another insightful story focused on the payday loan industry’s incestuous relationship with banks. I would point out that several banks, in addition to providing credit lines and mezzanine capital to payday loan direct lenders, offer payday loan products to their customers having direct deposit of their payroll check: Banks Offer Payday Loans.

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6 Comments so far
  1. Allen Parker February 24, 2013 11:14 am

    In the end, the banks always come out ahead :o)

    Allen Parker – Consultants4Tribes.com

  2. Payday Loan Industry February 24, 2013 11:15 am

    They have the money to “persuade.”
    Jer

  3. MartinF February 24, 2013 7:07 pm

    Seems to me that the various national payday loan organizations are funded by the major lenders and are simply PR machines. They’re goal is to eliminate us little guys and dominate the consumer small dollar loan niche.

    I reviewed their web sites. They stress CFPB and lawyer referrals. It’s not that complicated. Protect our customer’s privacy, fully disclose all our fees, work with our clients and we are “good-to-go.”

    Martin

  4. Frank M. February 24, 2013 7:09 pm

    I’ll be at the convention in March. Can I meet with the Trihouse Team? Kick around some ideas?

  5. Payday Loan Industry February 24, 2013 7:10 pm

    Sure… Jer lives just up the street from the St. Regis. Give us a call as he already has a bunch of meetings setup.

    Trihouse Team

  6. Payday Loan Industry February 24, 2013 7:12 pm

    There is merit in what you state. Still, it pays to support both your national and, for brick-n-mortars particularly, your local/state payday loan, car title, BHPH trade group.

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