Texas CSO Credit Services Organization – Payday Loans

By | Feb 22, 2011

The two bills that have been introduced in the Texas legislature re-define “Credit Service Organization” to specifically exclude payday loan stores. This would limit the fees that these payday loan and car title loan stores can charge based on an annual percentage rate.

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Future of Payday Loan Insight-Advance America provides Insight

By | May 20, 2010

Want some really interesting insight into whats going on in our industry? Go here and read the last 2 or 3 10-Q’s. Man… make my head tingle! Click here: Advance Cash America Investors

If you’re like the majority of our readers, legislation and alternative products are of great interest. Here’s a little insight into the advance cash America thinking from their 10-Q:

Changes in Legislation

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Payday Loans and the Hypocrisy of Their Competitors

By | Apr 10, 2010

In Texas, as in many locales, credit unions are aggressively developing products to compete with payday loans; the majority of which are offered under the CSO Model ( Credit Services Organization ). In a nutshell, under the CSO Model, a payday loan company simply fills out a one page form required to register as a CSO along with a bond and they’re in business. (There are a few other details…like forming two entities “at an arms-length-relationship” to (1)act as a “CSO and (2) a “Lender.”)

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Arizona Payday Loan Law Update

By | Apr 4, 2010

Many Arizona payday lenders have other lines of business, including car title loans, check-cashing services, scrap gold buying and acting as agents for the Motor Vehicle Division to register vehicles. Rapid tax refunds (RALS) are in the mix as well.

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CSO-Credit Services Organization for Payday Loans & Car Title Loans

By | Feb 22, 2009

The Credit Services Organization, often referred to as a CSO, is becoming popular in states like Texas for offering payday loans and car title loans. The reason? The state of Texas simply requires a “registration” of a business as a CSO rather than applying for a payday loan or car title loan license.

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