CFPB vs ACH Processor Intercept EFT

By | Jun 7, 2016

ACH Processor for Payday Loan and Car Title Loan Lenders Charged by CFPB 42. For example, an ODFI complained to Defendants that one of its clients, an auto title lender, which was debiting varying amounts from consumers’ accounts multiple times, did not have the contractual right or proper consumer authorization to do so, stating that it was “not […]

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Image Cash Letter ICL

By | May 17, 2015

Image Cash Letter-ACH Alternative Payday Loan & Car Title ACH Alternative – The Offering: Image Cash Letter: A web based portal that will allow for the following: 1) Collection of payments in as early as 1 day 2) Verification of the account prior to deposit to minimize return items and fees (option to push payment […]

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The Payday Loan Tsunami, ACH, Virtual Wallet, Paytoo: Thoughts and Interpretations

By | Sep 9, 2013

The Payday Loan Tsunami, ACH, Virtual Wallet, Paytoo: Thoughts and Interpretations By: Jer Ayler Trihouse It’s Tuesday, Sept. 10th and I’m in Paris contemplating the TSUNAMI that hit the payday loan industry! As YOU know, this is an incestuous industry. Billions $$ are at stake! We’re in the midst of a hurricane! Operators are bailing, […]

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Payday Loan Internet Lending: More Heat

By | Mar 20, 2013

Continued reporting on the payday loan industry by New York Times reporter Jessica Silver-Greenberg: “JPMorgan, the nation’s largest bank by assets, will give customers whose bank accounts are tapped by the online payday lenders more power to halt withdrawals and close their accounts.” “Under changes to be unveiled on Wednesday, JPMorgan will also limit the […]

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