Category Archives: Uncategorized

I left a comment for Curtis Arnold in his article titled, “Why Capping Credit Card Rates at 16% is Bad for Consumers“. I’ll make my point first. Everyone in the financial industry should acknowledge the reality that no one knows the 100% best way. We can agree that the market will give us a better […]

Gambler Loses $127 million in Vegas. Terrance Watanabe inherited over a $100M fortune from a company his father started importing party favors. Makes me wonder if I’m in the wrong business. After selling the company, Watanabe, took up a new hobby; gambling. The tragedy in all this is that he may wind up going to […]

Progress Illinois hates payday loans. They put a new article out there about Rep.l Gutierrez. “Illinois Rep. Luis Gutierrez, a longtime foe of the payday industry, is considering offering a payday-specific amendment to CFPA legislation when it reaches the House floor that would cap interest rates on payday loans at 48 percent — and also […]

Critics of payday lending make the mistake of not looking at the big picture when it comes to credit. Instead of looking at the lending ecosystem, they get caught up in sensationalizing the APRs. The cost of credit has to do w/ the credit worthiness of the individual and the to some degree the amount […]

If you have a question about the industry, we can try and answer it. Just leave your question in the the comments section of this post.

A 40-year-old “self-made multimillionaire” with more than 50 “retail financial outlets” that will help you walk on burning coals. I secretly love this “mind over matter” stuff. Here is an excerpt from the Dallas News article titled, Can a walk on hot coals lead you to enlightenment? “How many of you were raised with the […]

If you get a chance, read Lawrence Myers blog post titled Payday Loans: Calling out Josh Kalven. Besides the fact that Josh Kalven doesn’t know what he’s talking about, Lawrence basically gives the borrowers’ options. I think these are excellent (excerpt from his blog) and worth sharing: Options are limited, and payday loans (and installment […]

Consumer groups and fanatical religious groups have made payday lenders look like the bad guy in a movie. I’m going to clue people into something. It’s capitalism. Payday lenders are filling a demand that no one else wants to fill. Banks and credit unions are getting into the mix, but only because payday lenders created […]

Don’t navigate away. This is still the PDL Industry Blog. I figured out that people like reading from left to right and not center to right. No one really liked the orange either. Anyway, thanks for reading.