I read in TechCrunch that ZestCash, just raised $73 million round of funding. $23 million is equity (Matrix Partners, Lightspeed Venture Partners, GRP Partners, Flybridge Capital Partners, and Lighthouse Capital Partner) and they secured a $50 million line of credit (Victory Park Capital). Now they have $73M to play with. I bet they spend the $23 million on [...]
Category Archives: Uncategorized
Tribal Loans to State Residents
Blake Sims and Justin Hosie of Chambliss, Bahner & Stophel, P.C write an informative article titled “Tribal lending titled, Tribal Loans to State Residents – The Next Test of Sovereign Immunity.” The article provides a brief history and then summarizes some key cases that relate to payday lending. So does partnering with a Native American tribe provide immunity [...]
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FTC investigates Native American tribe payday loan operation
CBS News reports AMG Services is under investigation by the FTC (Federal Trade commission) and is being chased by multiple states’ Attorney General. AMG offers cash advances through multiple portals. The company is owned by a Native America tribe, which should provide them immunity from US law. The Colorado Attorney General argued at a November [...]
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Tagged cash advance
Payday alternative in San Francisco
The Huffington Post was talking payday loans today. The article is titled “An Alternative to Payday Lenders“. It was your typical anti-payday loan stuff. Here is the comment I left: I don’t know why everyone’s getting so emotional about this. If you can get cheaper money, do it. I commend the CU for offering this [...]
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Always looking for ways to interact with readers
I added a tool called Skribit to this blog. This tools helps my readers make suggestions for articles. For example, someone may want to read an article on Regulation Z and APR calculation or industry benchmarks. If there’s something on your mind, let it go; and put it in the box to the right.
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“Look Who’s Peaking at Your Paycheck”
This is worth sharing. Credit scores, which have been long a key factor in whether you get a loan or a credit card, may not be sufficient for many future credit decisions. The Credit Card Act will require credit-card companies to consider an applicant’s income or assets and current debts before approving credit. What does [...]
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Payday loans growing fast in the UK
An article about QuickQuid, a subsidiary of Cash America, in a British magazine. The article is titled “Texan tycoon behind the company charging hard-up Britons 2,300% interest.” I can’t help but chuckle at the article title. Apparently, demand for Internet payday loans is growing fast. It’s the same racket that sensationalized the APR. What’s new? [...]
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Tagged England
PDL Industry has a new look
Don’t leave. You’re in the right place. PDL Industry got a new domain and look.
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Credit card rate caps
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 [...]
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Off topic, but this in interesting
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 [...]
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