THE BLOG

06
Jun

Operation Choke Point Focused On Online Payday Loans

It’s been well documented that “Operation Choke Point” is targeting a multitude of legitimate businesses including gun shops, porn stars, vitamins, and small dollar credit. A new House of Representatives report has revealed even more.

“Contrary to the Department’s public statements, Operation Choke Point was primarily focused on the payday lending industry. Internal memoranda and communications demonstrate that Operation Choke Point was focused on short-term lending, and online lending in particular. Senior officials expressed their belief that its elimination would be a “significant accomplishment” for consumers.”

The Department of Justice’s “Operation Choke Point”: Illegally Choking Off Legitimate Businesses?
Staff Report
113th Congress
May 29, 2014

Read it here: Staff Report

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16
May

Operation Choke Point: In the News Again

Politico.com reports:

$3-5 MILLION CAMPAIGN TO COMBAT ‘OPERATION CHOKE POINT’

“The United States Consumer Coalition (USCC) is preparing to launch a $3- 5 million campaign to fight the Obama administration’s “Operation Choke Point,” a joint Justice Department, FDIC, and Treasury initiative that targets third-party payment processors who are considered “high-risk merchants,” including payday lenders.”Continue Reading..

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09
Jan

OBAMA’S OPERATION CHOKE POINT SEEKS TO DESTROY PAYDAY LOAN INDUSTRY

JER TRIHOUSE MUST READ: From Breitbart News.

“In an exclusive interview with Breitbart News on Monday, Richard Manning, Director of Communications for Americans for Limited Government, criticized the Obama administration’s efforts to destroy the payday loan industry. “Their intent,” Manning said, “is to create a government sanctioned means of driving private industry out of the business of providing payday loans. They’ve never shown a great willingness to be restrained by free market principles over the use of government sanctions.”

Sources tell Breitbart News that a new Consumer Financial Protection Bureau rule designed to crush the payday loan industry is expected to be announced in January.

In an August 22 editorial, the Washington Times became the first media outlet to alert the public to this isssue. “President Obama,” the Times wrote,” doesn’t like payday lenders, and neither, particularly, do we. But rather than seek changes by legislation or an open rule-making process to propose reform, the White House simply cracked down on payday lending.”

Read this piece in its entirety here: Breitbart News – Operation Choke Point

Using the payday loan “store model?” Looks like a no-brainer! Start here: PaydayLoanUniversity.com

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29
May

Operation Choke: 10 Civil Investigations Opened

Operation Choke Point continues to create controversy. Legitimate businesses are being attacked by the Obama administration. Having experienced difficulty in shutting down small dollar credit lenders directly, the administration is targeting vendors and processors who “enable” lenders to serve their customers.

By Alan Zibel and Andrew R. Johnson
The U.S. Department of Justice has opened at least 10 civil and criminal investigations into whether banks and payment processing firms helped enable fraudulent activity, according to an internal Justice Department memo viewed by The Wall Street Journal.

More than 850 pages of internal documents on the DOJ’s probe of alleged fraud in the financial industry were obtained by the House Oversight and Government Reform Committee.

The panel has been conducting an inquiry into the federal probe known as “Operation Choke Point,” which is aimed at reducing the ability of fraudulent businesses to operate by going after financial firms–like banks and payment processors–that help move their money.

The memos viewed by the Journal detail last year’s launch of the sweeping probe, which resulted in the government issuing subpoenas to about 50 banks and six payment processing firms, according to a November 2013 memo by DOJ official Maame Ewusi-Mensah Frimpong.

Ms. Frimpong, in her memo, wrote that the government had the opened civil investigations into 10 banks and payment processors and was in settlement talks with three of them.

The DOJ has also opened criminal investigations of four payment-processing firms as well as one criminal investigation of a bank “and responsible bank officials.”

The names of affected banks were… Read More.

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17
May

Bank Accounts for Payday Loans, Car Title Loans, CBD, & High Risk Merchants

May 16th, 2018. Two new ODFI’s, lender bank accounts and an extremely competitive payment processor available to serve you TODAY!

Need banking and processing for your high risk payday lending, car title loan lending, cannabis transactions, Image Cash Letters [ICL], CBD oil, MLM, ECig, and Nutraceuticals merchant processing…

ALL at extraordinary rates and zero reserves? Reach out to me! [Inquiry Form below.]

Having been in one of the highest risk verticals for 20+ years – online payday loan lending – it’s been easy for my Team to on board other high risk verticals in need of banking and processing. This includes tribe lending [TLE’s], processing CBD, MLM, ECig, and Nutraceuticals… That’s right!  CBD, kratom, Nutra, and Ecig businesses; all the high risk merchant processing your bank and merchant processor are “uncomfortable” with.

ODFI With Payday, Title & Personal Loan Processing Rates

ACH PROCESSING FEESNew rates and ODFI's effective today2 New ODFI's Avail.
NOTE 1: For Tribal Lending Entities (TLE's) a Bank Depository Account WILL be provided.
NOTE 2: Debit & Credit Card Processing is Available.
NOTE 3: We have MULTIPLE ODFI's available for TLE's, Payday, Title...
NOTE 4: No reserves. 3 day hold
Credit OriginationCall for Quote
Rejected TransactionCall for Quote
Credit ReturnCall for QuoteDiscount%Call for Quote
Credit Late ReturnCall for QuotePer PrenoteCall for Quote
Credit ChargebackCall for Quote
Debit OriginationCall for Quote
Debit ReturnCall for QuoteMonthly FeesN/A
Debit Late ReturnCall for QuoteACH Platform Access GatewayCall for Quote
Debit ChargebackCall for QuoteMonthly Bank FeeCall for Quote
Notice of Change [NOC]Call for Quote
NOC Auto-CorrectionCall for Quote
Incoming WireCall for QuoteApplication FeeN/A
Outgoing WireCall for QuoteSetup FeeN/A
Returned SettlementCall for Quote
Un-AuthorizationCall for Quote
NOTE 4: Rates are negotiable for high transaction volume.

Bank for payday loan business

Want to learn more about our ACH processing, Push loans to consumer’s phones, Credit & Debit card processing,  ICL [Image Cash Letter] money transfer solutions, bank accounts [ODFI], RDC [Remote Deposit Capture] and more?

Tribe and state models approved!

We can assist you with all your needs.

Let’s schedule a call to better understand your needs and our services!

Fill out my online form.
YOUR PRIVACY IS GUARANTEED!
Your information will only be sent to Jer at Trihouse!!
We ALWAYS act as if an NDA is already in place!
Jer: 702-208-6736 TrihouseConsulting@gmail.com

Has Compass, Kabbage, Wells Fargo, Chase, Bank of America… terminated you? Have you received an “ACH processor Termination Letter” from your Banker? Your ACH processor? No worries! When 35 million consumers demand access to a product, entrepreneurs always find a way.

There’s a fix for this! If you need an alternative to ACH, I’ve got it. Reach out. It’s cheap, proven and works.  Want more info?

Push-funds to borrowers: We have the system! This is huge!

Credit & debit card processing. We specialize in the payday loan, signature lending, small dollar loan vertical.

You know the PDL industry has been “on the ropes.” Dollar delivery systems have been under heavy attack. President Obama launched “Operation Choke Point” and multiple AG’s have squeezed lenders hard. BUT, President Trump is in charge now  🙂  Everything in the payday loan industry is improving daily. Even the publicly traded payday loan’installment and signature loan companies are performing MUCH better and recording huge increases in transaction volume and profitability. The CFPB is crashing and burning!

And, in spite of all the “noise,” millions of consumers continue to “vote” every day to employ our products to solve their financial challenges. Likewise, savvy payment processors and banks launch new, exciting, state-of-the-art money transfer conduits enabling lenders to continue to service our demographic.

ACH for payday loans

Today, I announce money transfer solutions worthy of your consideration:

  • Bank accounts
  • ACH for tribe and state licensed lenders
  • PIN debit
  • PINless debit
  • EFT
  • ODFI’s in the USA
  • ICL
  • Credit cards
  • PDL operating accounts
  • 7 Methods for consumers to make a payment
  • Plug-n-play API’s
  • Legacy portfolio importation
  • Super competitive rates
  • And much more…

This is the future of money movement! 

ACH for Payday Loan Business

Trihouse has solutions available; each focusing on your specific need as an MSB, PDL or title loan lender.  As you know, Operation Choke Point, “bank discontinuance” and state/tribe licensing are all factors determining the most suitable banker, ACH provider and alternatives. Your rates, fees, rolling reserves, etc. are dependent on your business’s specific situation.

Invest 30 seconds of your time here and we’ll provide you with a direct line to our financial solutions provider.
To arrange a private, DISCRETE introduction to our “solutions” go here: Private Request for Intro.

Fill out my online form.

This will enable your Team to discuss your unique, individual needs directly with our processors. Note: The longer your Team waits to find out more, the closer you’ll be to the bottom of the stack of applications. This isn’t B.S. You already know bankers, ACH processors and state lending license issuers are BURIED!

TrihouseConsulting@gmail.com
Request a Private Introduction: ACH Solutions

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