CFPB Takes Broadside- Leadership Structure Ruled Unconstitutional!

By | Oct 11, 2016

CFPB Leadership Structure Ruled Unconstitutional by D.C Circuit Court :-)

This just in from Ben Lane:

“In a unanimous decision of the three justices of the United States Court of Appeals for the District of Columbia Circuit, the court ruled that the CFPB’s current structure allows the director to wield far too much power, more than any other agency in the government.”

‘Because the Director alone heads the agency without Presidential supervision, and in light of the CFPB’s broad authority over the U.S. economy, the Director enjoys significantly more unilateral power than any single member of any other independent agency,’ the court writes.

And it gets worse for the CFPB.

“From the court’s decision:By “unilateral power,” we mean power that is not checked by the President or by other colleagues. Indeed, other than the President, the Director of the CFPB is the single most powerful official in the entire United States Government, at least when measured in terms of unilateral power. 

That is not an overstatement. What’s this mean  for the Payday Loan Industry?

What about the Speaker of the House, you might ask? The Speaker can pass legislation only if 218 Members agree. The Senate Majority Leader? The Leader needs 60 Senators to invoke cloture, and needs a majority of Senators (usually 51 Senators or 50 plus the Vice President) to approve a law or nomination. The Chief Justice? The Chief Justice must obtain four other Justices’ votes for his or her position to prevail. The Chair of the Federal Reserve? The Chair needs the approval of a majority of the Federal Reserve Board. The Secretary of Defense? The Secretary is supervised and directed by the President. On any decision, the Secretary must do as the President says. So too with the Secretary of State, and the Secretary of the Treasury, and the Attorney General.

In short, the court writes, the director of the CFPB is the “single most powerful official in the entire U.S. Government, other than the President,” in terms of unilateral power.

Email TrihouseConsulting for a PDF of the Original D.C. Court Decision: Original Article Put “DC Circuit in Subject.”

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Evil Center for Responsible Lending vs Payday Loan Industry

By | Oct 4, 2016

Why do payday loan lenders take a beating by the media and the politicians so often? Because of organized campaigns like this one launched by the CRL. [Remember the Center for Irresponsible Lending? Founded by credit union and bank executives – think Wells Fargo – whose mission is to crush the payday loan industry so they can maintain their 2000% APR NSF fees?]

The CFPB has received over 170,000 positive payday loan testimonials from real borrowers. That’s great! We’ve done a good job with this. But our “system” for asking our happy customers to enter  these positive stories on the CFPB website is CLUNKY, SLOW and CUMBERSOME.

Now, take a look at the CRL campaign to bury us:

stop-payday-loan-sharks

The CRL makes it so easy. They send every Tom, Dick and Harry to this website. The negative payday loan commentary is already present in the comment box. All their sycophants have to do is enter a fake name, email address and zip code, hit “Submit” and the dirty deed is done! We eat it!

SMOOTH! SMART!! And EVIL!!!

Here’s their website: CRL EVIL WEBSITE

And, in case you didn’t submit a POSITIVE payday loan testimonial – which you should – here’s their EVIL “Thank You Page.”

Here’s what you need to do:

  • Go to the CRL website
  • Enter phony information like the CRL idiots do
  • “Submit” your bogus info and share the Thank You page with friends, family and customers; like they do.
  • Oh, and even better, write a simple positive payday loan “Template” testimonial for those with whom you share.
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PDL-Biz: 2:00 Minute Video Can Save You $2.8M Dollars.

By | Sep 25, 2016

Need money? GROWING your operation? Or, starting a new one? You need capital!

I have it!

Let me tell you my story.  And it’s not a story of triumph.  There is no happy ending here.

I was a computer guy and my computer business became a grind.  Razor thin margins kept getting thinner… and so much work.  I was tired of it.  And it wasn’t making great money.

The guy next door to my office was running a payday loan office.   I was amazed.  He was never there and he had only one really dumb – but very attractive – employee.  As I sat in my lonely and boring computer store, I’d see these people line up next door and borrow money.  The employee would come in very late.  Be gone for 2-3 hours for lunch.  And would leave early.

Yet, these customers kept coming back.  Sometimes 3-4 times per day.  There was obviously real demand here.  The owner decided he didn’t feel like running this business anymore, and the landlord for the building asked me if I would like to take over the location.

I jumped at the chance.  It couldn’t possibly be worse than trying to set up AOL for people that were 200 years old.

I got my Florida State deferred presentment license and opened up my first check cashing/payday loan store in 1998.   It was a beautiful time.  There was no CFPB, and State regulations were minimal.

I was earning amazing returns.   Very few collections issues.  Very little fraud.  It was the “golden age” of lending!

But my success was causing me problems.  I wasn’t that well capitalized.  I was quickly running out of money to lend.  People would ask to take out a loan. I would tell them to come back on Friday, after I had received some payments.  And sometimes, I didn’t have the money for them on Friday, so they’d come back on Saturday.

I was stuck.  I was turning away too many people. There weren’t many banking options available.  So I found a partner.  I offered up 50% of my 4 month old company for $150,000.00.  He agreed to lend the business the money and I thought that I had hit the jackpot.

Over the next 10 years, the one store grew to 5.  And our revenues were pretty great.  Then the partnership went bad.  We wanted to go in different directions. I called it the Internet :-)

Eventually I sold my 50% of the loan business just to escape from the conflict and negativity.

Looking back, I realize that the investors’ original $150k had been so VERY expensive.   As the business grew, so did his salary, his expense account and his dividends.  I’m not disrespecting his investment.  Or the risk that he took.

When you’re starting out, you try and focus on not failing.  But you have to also consider what happens if you’re successful?  I hadn’t really put any limitations or contingencies for the growth of one store into a small chain.  Our small stores had low overhead and were very profitable.

From this business, the funding partner collected approximately $2.8 million dollars.  That was pretty awesome.

For him.

But not for me.

If I had other funding options at the time, it would have been amazing.

If I had the ability to arrange a combination of bank financing to grow my business, the difference in my results after 10 years of work?

Awesome!

Epic!!

It would have been life changing!!! I would have earned more than DOUBLE the income.  No partnership conflict and in total control of my company and my future.

So now, years later, I discover this unique and effective funding platform, I get really excited.  I have to share this with every guy that’s starting out.  Or growing.  If you have a half-way decent credit rating, this program can get you the funding you need.  

Holy CRAP!

Without giving up your precious equity.  And creating a platform for further growth, as you need it.

Remember?  Life changing.  Access to the capital you need without losing control?

So, I’m begging you.  IF you’re looking for some capital to grow your business, PLEASE fill out this short form and get in touch with me. [Click: Easy Form.]

My capital raising programs are so much better than seeking out private money at 20-30%, or giving up equity.

Here’s a 2 minute video to explain what I do.  Two minutes!  I WANT to save you $2.8 million dollars.

Can you afford NOT to invest 2 minutes to get serious money for your business?

With Jer at Trihouse, I’ve already successfully helped payday, title loan and MSB’s get money that makes sense! [And a few other industries as well.]

DO THIS! It costs you nothing and there is no obligation. Give your business a chance!

Click here: “Yes I’m interested!” Watch the 2 minute movie explaining everything.

After investing 2 minutes of your time, simply click the APPLY button at he bottom of the 2 minute movie page and I’ll get your money for you.

AGAIN, there is no cost or obligation to see where you are and what I can do for you.

Be awesome out there.  And don’t let anybody, or anything hold you back!

Sincerely,
Miro P. with Jer at Trihouse

Finally, to receive future updates from us, simply plug in your First Name and your email address. Then click on the “Subscribe Link” that you’ll shortly receive in your Inbox. No Spam and no Garbage. Spam is for jerks anw we are not jerks! Now go make some $$.

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Connecticut: Tribe Payday Loan Lender May Continue

By | Sep 16, 2016

PayDay Loan Ruling: Connecticut Sovereign Nation Status

The state of Connecticut’s banking department must decide whether to appeal a ruling that appears to allow an Oklahoma Indian tribe to continue to offer payday loans in Connecticut. The Otoe Missouri Tribal Nation brought a lawsuit claiming tribal sovereignty protects it from Connecticut usury rate enforcement, after the Connecticut banking department determined the Otoe Missouri Tribal Nation had violated state loan laws. The Otoe Missouri Tribal Nation offres payday loan products having interest rates of more than 400 percent APR’s. However, a superior court judge has found in the tribe’s favor saying “its rights have been prejudiced.”

And the beat goes on…

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CFPB Grossly Understates Positive Payday Loan Testimonials it Received

By | Sep 12, 2016

We all know that our U.S. government agencies lie, cheat and steal even more than our politicians do. After all, these agencies are made up of ordinary people.

So it comes as NO SURPRISE that the CFPB failed to honestly reveal that 98.5% of the puny total number of payday loan testimonials submitted by ordinary borrowers on the CFPB payday loan website portal were POPSITIVE about the payday loan product!

According to the CFSA, during the 5 years data has been made available, “12,308 comments (or more than 98%) of the 12,546 comments submitted on short-term loans praised the industry and its products and services, or otherwise indicated positive experiences. “

Thus the old saying, “Statistics can be made to prove anything.” Ofcourse, in this CFPB instance, the government agency simply lied. So… what’s new? Zip!

To learn how to make money by lending money, Click Here!

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