Category Archives: Uncategorized

NAFSA (Native American Financial Services Association) is suing New York Department of Financial Services (DFS)  and Administrator Benjamin Lawsky in Federal court. The complaint argues that tribes will suffer irreparable injury absent injunctive relief, as Defendant Lawsky’s intimidation tactics against banks and third-party processors have already led to significant harm to tribes’ business relationships. New York is avoiding […]

Raising capital is probably the most important and least discussed component of your lending operation.  Always glad to post for someone that’s offering credit to small lenders.   If you have an offer for lenders, please let us know.  We’ll be happy to post it. You can learn more about this specific offer at the […]

“Every flight begins with a fall.” ― George R.R. Martin, A Game of Thrones Philanthropist Cary V. Brown’s payday loan operation has sent about 400 workers home.  The major blow is the ACH system.  Brown used ACH Federal, which is a subsidiary of Brown’s operation.  It appears that the banks for that work with ACH  Federal turned […]

Date: October 16-18, 2013 Location: San Diego Marriott Marquis & Marina You can register HERE. The fall conference is the biggest OLA event.  The networking is great, strong educational component and it a lot of fun. Can’t say enough about the OLA team.  There are some excellent people running the organization. Online registration ends on […]

I’m very excited about Clarity’s  newest product, Clear Warning For ACH Presentment .  The product’s main purpose is to prevent unnecessary ACH returns and addresses some important issues: Unnecessary NSF fees just piss off the borrower. As a lender, excessive returns are more likely to receive complaints at the local and federal level. Returns are […]

Jamie Fulmer, is a senior vice president at Advance America, one of the nation’s largest payday loan companies with operations in 29 states. He says, 96% of Advance America customers rate their customer experience good to excellent. I’m not sure how they came up with this number, but the numbers do not lie.  People keep […]

There is NOT a lot of competition out there for unsecured loans charging between 36% and 99%.  Increase the rate another 400% and lenders are tripping over each other to get to these borrowers.  The reason is that the triple digit rates allow the lender to take the losses that are typical of the payday […]

The New York district attorney is going for the jugular on Native American lenders.  Now, they’re instructing 117 banks to prevent the flow of money through the ACH system.  Let’s face it the lending business starts and ends with the money.  You take this away and it cripples the targeted lenders.  The big questions now […]

FDCPA (Fair Debt Collection Practices Act) does not apply to the primary creditor.  The primary creditor is the original business of record on the obligation, so you would not break federal law as it pertains to FDCPA………but your state may have a law that mirrors FDCPA and may include rules that apply to the primary […]

Avant Credit is the brain child of CashNetUSA founder Al Goldstein, former Enova V.P. John Sun and former CTO of Debtye – Paul Zhang.  Avant wants to add a new credit approach to online lending by using big data.   Currently operating in about 15 states, with Colorado and Texas coming soon. The portfolio is around $10m, […]