Operation Choke Point Payday Lenders
Like Newt Gingrich or not, his assessment regarding the FED’s ability to make it impossible for legal industries to operate is accurate. “Operation Choke Point” has driven several of my clients to pay “finder’s fees” of as much as $45,000 to anyone able to introduce a willing bank or credit union to provide a basic depository account for payday loan, MSB, check cashers and car title loan lenders. These are legal, licensed businesses forced to pay “bribes” for a bank account. And, don’t jump to the conclusion that these “purchased” bank accounts are for abusing borrowers. I’m talking about simple depository accounts enabling a state/tribe licensed payday lender to pay their bills; payroll, vendors, rent, LMS providers…
Sure, you the reader are probably saying, “Good riddance!” But the FED’s are choosing the winners and losers. Today, they’ve chosen gun shops, small dollar credit lenders, collection companies… Tomorrow, it will likely be your industry, your job and your customer who will have their ability to bank “choked-off.”We offer 2 methods to invest in our “How to Start a Car Title Loan Business:”
Immediate download in Adobe Acrobat or choose our printed version. 3-Ring Binder, 8 1/2 X 11, 400+ pages, illustrated. NOTE: If you invest in the printed version, we will email a digital version immediately.