CFPB: Big Win for Consumers & Lenders – Mandatory Underwriting Provisions Rescinded!
The Consumer Financial Protection Bureau [CFPB] today issued a final rule concerning small-dollar lending in order to maintain consumer access to credit and competition in the marketplace. The final rule rescinds the mandatory underwriting provisions of the 2017 rule after re-evaluating the legal and evidentiary bases for these provisions and finding them to be insufficient.
Single Director Structure of Dodd-Frank Act Held to be Unconstitutional
FISCA MEMBER ALERT [If you are not a member, join here: FISCA GREAT NEWS for Our Industry! U.S. SUPREME COURT RELEASES RULING IN SEILA LAW, LLC VS. CFPB Single Director Structure of Dodd-Frank Act Held to be Unconstitutional Today the U.S. Supreme Court announced its decision in Seila Law, LLC vs. CFPB, a case in which a […]
Pandemics, Riots: Lending to the Masses & Baby Boomer Sellers
Payday loans, pawn shop loans, car title loans, installment loans, line-of-credit loans, wage advances, loans on smartphones, car title loans… basically the same business. Some loans are collateralized and some are not.
YOUR’E LENDING MONEY TO THE MASSES.
The masses ALWAYS need money. [Read “The Ascent of Money” and “Debt: The First 5000 Years.”
The Chinese virus/pandemic, protests, looting… will subside. These events have ACCELERATED the move to the digital money movement.
Change is MOST CERTAINLY here! Job environments are changing. Work from home will increase. It’s a digital world.
There will NOT be another lockdown! 40 million jobs cannot be allowed to happen again!!
Our recovery will be V-SHAPED. The Federal Reserve is flooding our economy. $3Trillion in stimulus and 75%+ has not even “hit the streets” yet!
Lending to the Masses? It’s About the Job. Which States Have Greatest Demand for Loans!
Are you itching to get into “the business of lending to the masses?” Do you comprehend the SIGNIFICANT tsunami for the demand for small-dollar loans in Q2, Q3, Q4, and beyond? Are you a vendor, call center operator, payment processor, lead generator, loan management software provider, a lawyer… interested in learning more about this industry? Get a copy of our “Bible: How to Loan Money to the Masses Profitably.” Click to view the “Table of Contents” and get our 500+ page PDF delivered into your inbox immediately.
$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.
I Have a Dream. It Has a Surprise Ending. I’m Out of Work
I have a dream! With a surprise ending! I’m out of work! I’m an optimist. Always have been. Present ANY scenario to me and I will ferret out the positives and solutions. [For perspective, know that I’m a consultant for “Loan Sharks;” the business of lending to the masses. In “polite society” and in the […]
Pray Tell, What’s a Non-Depository Financial Technology firm? New PPP for Lenders
“As a result of the changes, all PPP lenders approved by the SBA, including non-depository institution lenders, are now eligible to participate in the PPPLF. SBA-qualified PPP lenders include banks, credit unions, Community Development Financial Institutions, members of the Farm Credit System, small business lending companies licensed by the SBA, and some financial technology firms.”
Corona Stimulus: What Lenders Must Do Immediately to Help Their Customers & Themselves
The IRS Is Urging These 3 Groups to Register for a Stimulus Payment ASAP