Payday Loan Tribe Model Attacked

By | Sep 28, 2011

Jer Payday Loan TrihouseWe all know the payday loan – tribe partnership model is highly controversial. It’s a strategy being evaluated by tribes having considerable wealth, “poor” tribes lacking gaming success, and sophisticated payday loan Lenders with superior management skills. State Attorneys General, the Fed’s, legal counsel and our industry is watching this develop.

Ultimately, when constructed in a fashion that achieves the spirit intended, the sovereign nation model appears sound. If you’re interested in the tribe payday loan model, there is an interesting article here: EquityNews.info. We have not vetted all the data here so perform your due-diligence! Obviously, Equity News is not a fan of Scott Tucker, the payday loan industry, or “creative approaches” to satisfying the desire by consumers for access to our small, non-collateralized, short-term loans. (Of course, that doesn’t preclude Equity News from earning revenue by displaying ads for payday loans on their web site.)

And this won’t  be the first time I’ve been chided by my “brothers and sisters”  in the payday loan industry for continuing to shed light on offshore, choice-of-law, tribal and other controversial methods for offering payday loan products.

I continue to believe that open discussion about micro-lending will help regulators, legislators, the media and our industry find methods to serve the millions of consumers, around the world, who want and need access to our products and services.

What do YOU think? Leave a comment.
Jer@PaydayLoanIndustryBlog.com

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7 Comments so far
  1. Sandra September 28, 2011 10:57 pm

    Well those who attack you are afraid of what you are doing? I have been watching this blog for a while as I am considering starting a pay day loan business. They way I see it the more you (an expert) is attacked the more trustworthy you are. Keep it up.

  2. Jose September 29, 2011 5:33 am

    Jer, you’re one optimistic dude! You really think regulators and legislators will ever get it? You’re like a bright light in a dark room…

    Thank You!

  3. […] faces like regulation and perception be overcome?  One industry leader I know is encouraging communication and the exchange of ideas to answer such questions.  Whoever gets it right will be catapulted into the new global economic […]

  4. Hellen Wilson October 8, 2011 11:36 am

    Thanks for the share!
    Hellen

  5. admin October 20, 2011 12:50 am

    Yeah, I read your Post over at http://www.CreditAccessBusiness.com Michael. Anyone with an interest in the Texas Credit Services Organization CSO to Credit Access Business CAB transition MUST visit!

    Jer

  6. admin October 20, 2011 12:52 am

    Jose, OK, OK!! You’re loan has been approved!

  7. Gena @ short term credit July 26, 2012 11:42 pm

    The payday loan would be a model for those who have a job. Since they got paid every month lenders would assume they could pay them back as soon as they do not loan a big sum.
    It’s one of the best option for those who would like to have some urgent cash or in need of short term financial help.

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