Consumers WIN BIG! CFPB payday loan rule shut down!! And DEALS/OPPORTUNITIES are immense today.
Frankly, there has never been a better time to be “lending money to the masses.”
- Demand for credit by borrowers is huge.
- Stats are all over the map – depending on the source – but something like 60% of US households do not have access to $1000 cash in an emergency.
- The big sub-prime lending season is almost upon us.
- Jobs and ability to pay us back are through the roof.
- Consumer optimism is sky high.
- Washington D.C is not likely to devise too many roadblocks that could stifle all this enthusiasm.
THE BIG NEWS TODAY?
U.S. District Judge Lee Yeakel reversed a previous order and granted, in part, the request by acting CFPB Director Mick Mulvaney and two payday loan industry trade groups to delay the payday loan rule’s August 2019 compliance date. “We sought a delay in order to help consumers in general, and borrowers specifically, enable lenders to continue to solve sub-prime borrowers access to credit throughout the USA and from having to comply with an old CFPB rule before their revisions were even finalized!
The district court in Texas issued an order staying the August 2019 compliance date of the payday rule pending further order of the court. The court reasoned that, in light of the CFPB’s representation that it would engage in rule making to reconsider both the rule and its compliance date, lenders and consumers facing financial hardships would suffer irreparable harm if the existing compliance date were not stayed.
Judge Lee Yeakel left the stay of litigation in place, and ordered that the parties file a joint status report.
Meanwhile, know that opportunities in the “business of lending to the masses” today are unfathomable.
I RECEIVE CALLS EVERY DAY! Capital is a commodity. Lacking experienced lending expertise/talent, money not put to “work” is useless. Mid-20’s ROI to “back seat” investors are available. Texas 3rd party lender 12%+ secured returns are out there. Seasoned Fintech lenders having 5+ years lending experience with proprietary loan management software and apps are on the hunt – now – for capital to “put on the street.” Instant 24/7 loan funding is now available. Virtual, instant debit/credit cards are here. New LMS companies are on the prowl to deliver state-of-the-art solutions for borrowers and lenders. Stores are for sale…
You have a deal? You need a deal? Email your contact info and a bit of “color” to: TrihouseConsulting@gmail.com
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