Why Consumers Are Obsessed with Workplace Loans – And How Subprime Lenders Can Benefit!
The sudden increase in the search term “Workplace Loans” has severe implications for subprime lenders who offer similar loan products. Here are some insights and considerations based on this observation: PS: I’ll be attending the Online Lenders Alliance [OLA] Tribal Conference in San Diego November 6-8. I have a few spots still open. Meet in […]
Supreme Court Rocks the Boat: Native American Tribe Lenders Subject to Bankruptcy Laws
In the case of Lac du Flambeau Band of Lake Superior Chippewa Indians v. Coughlin, the Supreme Court ruled that Native American tribes are subject to bankruptcy laws like any other creditors. Lac du Flambeau Band owns an online payday lending operation and argued that their sovereign immunity excluded them from an automatic stay of […]
Consumers Feel The Pain: Nationwide 36% APR Cap Theme Continues: Illinois and Nebraska Go Dark.
Consumers Feel The Pain: Nationwide 36% APR Cap Theme Continues: Illinois and Nebraska Go Dark. By: Jer Ayles Fellow small-dollar lenders, vendors, and MOST importantly the 50%+ of U.S. households who do not have access to $500 when the car breaks down, the utility bill is due, the kitchen is bare, the… well, you know […]
$550 Million Settlement with Santander Subprime Auto Loans: Arizona AG
I’ve been pounding the table lately regarding the need for ALL entrepreneurs in ALL industries to collaborate with competent experts who know how to legally prepare you for this litigious society we live in! Yes, I’m well aware of the propaganda! “There are more payday loan stores in the USA than there are McDonald’s.” B.S! […]
THE TRIBAL LENDING ENTERPRISE. ASSET PROTECTION-WHAT YOU NEED TO DO TO PROTECT YOURSELF
Recent cases show that anyone providing services to a TLE, or even to a service provider of a TLE, should be concerned about potential lawsuits. This includes owners and C‑level officers of lead providers, marketing companies, loan management system providers, payment processing companies, funding providers, consultants, etc. Given these large payouts, we anticipate that the class actions firms will only get more aggressive. They smell blood in the water.
Ex-Billionaire Scott Tucker Payday Loan Lender Finally Tells His Own Story
By: Jer Ayles. Consiglieri to entrepreneurs interested in “The Business of Lending to the Masses.” Scott Tucker has been portrayed by Netflix, American Greed, The WSJ, The NYT… and on and on as a pure, 100% scum bag payday loan lender and loan shark for years. When I speak to investors, Wall Street, Family Offices, […]
The Biz of Lending to the Masses: Fintech, Wage Advance Products & California CFL’s
Fintech “lenders” are pushing the boundaries of what state AG’s consider to be loans. Earnin.com, Dave.com, PayActiv.com, MeetHoneyBee.com, DailyPay.com, Flexwage.com, HelloBrigit.com, BranchApp.com, WageStream.com and on and on all offer “wage advance,” “payroll advance” in essence a “kinder, gentler version” of a payday loan. Fintech, California CFL’s, Wage Advance Products Embroiled in Class Action Lawsuits. The Biz of […]