THE BLOG

23
Jan

DFC Global Corp Earnings Report-Q2 2013

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DLLR (NASDAQ) will conduct an earnings call Thursday, January 24th at 5:00 p.m. ET. (Get link below).

From their web site:

“DFC Global Corp. is a leading, international, diversified non-bank financial services company that has served under-banked consumers and small business owners for over 30 years. Through our retail storefront locations, websites and mobile platforms, we provide a range of consumer financial products and services in nine countries (the United Kingdom, Canada, the United States, the Republic of Ireland, Sweden, Finland, Poland, Spain and the Czech Republic). Our customers look to us…”

“Our products are principally unsecured short-term consumer loans, secured pawn lending, check cashing services and gold-buying services that provide customers with immediate access to cash for living expenses or other temporary needs. We also offer high-value ancillary services, including Western Union® money order and money transfer products, electronic tax filing, reloadable VISA® prepaid debit cards, foreign currency exchange, and other services.”

Note: Webcasts are typically available for 30 days. Visit http://www.dfcglobalcorp.com/ if you miss the live event. Link to join the Conference Call for DFC Global

22
Jan

Mississipi Financial Service Centers – Alert

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For those of us interested in Mississippi: HB559

The House Bill removing the repealer on the Check Cashing industry was passed out of the Banking and Finance Committee today.  There is a strong possibility that it will be taken up on the floor of the House of Representatives tomorrow (Wednesday). We need to ask Legislators to please vote to pass the bill exactly as it came out of committee with NO MENDMENTS!

Please take a moment to contact YOUR STATE REPRESENTATIVE and convey this message.  You may click on the link below to find the phone number for your Representative.  Be ure to call them at the Capitol Office and not their home phone.

Sample Script:
May I please speak to or leave a message for Representative XYZ?  This is Jane Doe from Quick Cash in Corinth, Mississippi.  I’d like to ask him to please support HB559 exactly as it passed out of committee – with no amendments.  Please ask him to call me if he has any questions concerning the bill.  (Be sure to leave your name and phone number)

House Legislative Roster and Contact Info: http://billstatus.ls.state.ms.us/members/h_roster.pdf

Mississippi-Financial-Service-Centers
ANNUAL MEETING!
With the Legislative developments announced above, it is even more important that you make plans to attend the FSCM Annual Meeting on Thursday.  We will hear from our Legislative Lobbyists and will discuss important strategies for the rest of the Session that will impact our industry for years to come.
WHEN: Thursday, January 24, 2013
WHERE: Jackson Hotel
310 Greymont Ave
Jackson, MS
TIME: 6:00 pm  KC Grist –  Executive Director    662.255.9726

21
Jan

Heads-Up: EZCORP Live Earnings Call Jan. 23rd

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Jer,

Heads-up! Live over the Internet earnings call January 22, 2013 for EZCORP 3:30 Central Time:
http://www.videonewswire.com/event.asp?id=91507

“EZCORP is a leading provider of instant cash solutions for consumers employing approximately 7,200 teammates and operating over 1,275 Company-operated pawn, buy/sell and personal financial services locations in the U.S., Mexico and Canada.  We provide a variety of instant cash solutions, including pawn loans, consumer loans and fee-based credit services to customers seeking loans. At our pawn and buy/sell stores, we also sell merchandise, primarily collateral forfeited from pawn lending operations and used merchandise purchased from customers.”

Jer~Trihouse 702-208-6736
Knowledge Store:
Payday Loan Biz
Car Title Lending
Scrap Gold Profit Centers
Is Your Web Site Mobile Phone Friendly? 

17
Jan

Payday Loan and Car Title Pledge Loans: Unintended Consequences of Access to Credit

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There is a strong argument for advising regulators to avoid restricting consumer access to credit alternatives. A piece written by Todd Zywicki and Robert Sarvis  at Mercatus.org does a good job of championing a multitude of financial products including car title “pledge” loans and payday loans. Here’s a portion:

“Well-intentioned legislators and regulators assume that restricting particular forms of credit will lead to fewer bad financial outcomes. But this is misguided and can lead to worse, not better, outcomes. Restrictions on particular types of consumer credit don’t necessarily induce consumers to refrain from unnecessary purchases or to avoid bad out- comes. Consumers resort to these financing options because they have pressing needs. So repressing one form of consumer credit will often only lead to a shift to other new or existing forms of consumer credit offered on less favorable terms for consumers. Restrictions on payday lenders might simply turn them into title lenders, as they seek to make up for caps on fees and interest rates by demanding collateral to reduce losses in the event of default, or push consumers to online payday lenders, which often charge higher rates than brick-and-mortar payday lenders. The ad hoc regulatory program of restricting disapproved forms of consumer credit thus has a whack-a- mole nature to it; limiting one form simply spawns a new one that avoids existing regulations.”

Read the entire article here: http://mercatus.org/publication/pitfalls-regulating-consumer-credit

16
Jan

Payday Loan Companies Using Facebook and Twitter

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There’s an interesting piece at American Banker discussing the merits of payday loan companies using consumer social media footprints for credit risk analysis.

Does your small dollar loan company incorporate your applicant’s Facebook, Twitter, Google+… tracks? Can you offer a reward for “friending” your company? For a favorable Yelp review?

American Banker quotes Ken Rees, CEO at Think Finance, “That while analysis of customers’ social networking activity is more useful for fraud detection, there are uses for credit risk. One simple check is finding out if a borrower actually has a social media footprint. Facebook and Twitter have become so ubiquitous that not having accounts can set off a red flag. ‘It’s better to have an online ID. Not having one is like walking into a brick and mortar store without a driver’s license,’ he says.”
American Banker full article

PDF: 500+ Pages $150.00

How to Start or Improve a Consumer Loan Business: Storefront or Internet anywhere!

How to Start or Improve a Consumer Loan Business: Storefront or Internet anywhere!

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