Comments for PDL INDUSTRY NEWS http://www.pdlindustry.com Industry News Payday Loans Mon, 23 Jan 2012 20:16:30 +0000 hourly 1 Comment on Former Google CIO takes payday operation to next level. by Nick Sparagis http://www.pdlindustry.com/former-google-cio-takes-payday-operation-to-next-level/#comment-176 Nick Sparagis Mon, 23 Jan 2012 20:16:30 +0000 http://www.pdlindustry.com/?p=729#comment-176 Also Randy, this Quora question shares the same sentiment as you: http://www.quora.com/ZestCash/To-what-extent-is-ZestCashs-dont-be-evil-approach-to-loans-just-marketing-hype-Are-they-just-another-payday-loan-operation-with-disingenuous-marketing?q=payday Also Randy, this Quora question shares the same sentiment as you: http://www.quora.com/ZestCash/To-what-extent-is-ZestCashs-dont-be-evil-approach-to-loans-just-marketing-hype-Are-they-just-another-payday-loan-operation-with-disingenuous-marketing?q=payday

]]> Comment on Former Google CIO takes payday operation to next level. by Nick Sparagis http://www.pdlindustry.com/former-google-cio-takes-payday-operation-to-next-level/#comment-175 Nick Sparagis Mon, 23 Jan 2012 19:58:40 +0000 http://www.pdlindustry.com/?p=729#comment-175 Randy, you’re 100% correct. They started in states that are very pro lender. I use this resource for finding good states to operate in. I know it’s a consumer protection site, but it gives good information: http://www.paydayloaninfo.org/state-information Randy, you’re 100% correct. They started in states that are very pro lender. I use this resource for finding good states to operate in. I know it’s a consumer protection site, but it gives good information: http://www.paydayloaninfo.org/state-information

]]> Comment on Former Google CIO takes payday operation to next level. by Randy http://www.pdlindustry.com/former-google-cio-takes-payday-operation-to-next-level/#comment-173 Randy Mon, 23 Jan 2012 14:43:17 +0000 http://www.pdlindustry.com/?p=729#comment-173 Well they might be operating under certain statutes that permits this type of lending. There prices are outragous compared to a licensed payday lending company in a state for example Florida. It least according to the way they are lending they will have limited states to go into. They certainly won't be coming to Florida with a cap on consumer finance lending listed under chapter 516. 30% max APR! Payday Loan fees in Florida are also less than this company at 10% plus a 5 verification fee. Ex. 300.00 payday loan is a 35.00 fee up to 31 days. Yes the draw back is they must be paid back on the customers next pay date. But this is how the state of Florida chose to write its laws. I also like the fact that a customer can have only one loan open at a time in Florida. Amazing that zestcash started their company around the same time as my company started and they will blow away the field with that kind of capital. But they will also be limited to individual states based on their model. Well they might be operating under certain statutes that permits this type of lending. There prices are outragous compared to a licensed payday lending company in a state for example Florida. It least according to the way they are lending they will have limited states to go into. They certainly won’t be coming to Florida with a cap on consumer finance lending listed under chapter 516. 30% max APR! Payday Loan fees in Florida are also less than this company at 10% plus a 5 verification fee. Ex. 300.00 payday loan is a 35.00 fee up to 31 days. Yes the draw back is they must be paid back on the customers next pay date. But this is how the state of Florida chose to write its laws. I also like the fact that a customer can have only one loan open at a time in Florida. Amazing that zestcash started their company around the same time as my company started and they will blow away the field with that kind of capital. But they will also be limited to individual states based on their model.

]]> Comment on FTC investigates Native American tribe payday loan operation by Tribal Loans to State Residents http://www.pdlindustry.com/ftc-goes-after-indian-tribe/#comment-164 Tribal Loans to State Residents Thu, 05 Jan 2012 20:39:39 +0000 http://www.pdlindustry.com/?p=722#comment-164 [...] PDL INDUSTRY NEWS Industry News Payday Loans Skip to content « FTC investigates Native American tribe payday loan operation [...] [...] PDL INDUSTRY NEWS Industry News Payday Loans Skip to content « FTC investigates Native American tribe payday loan operation [...]

]]> Comment on FTC investigates Native American tribe payday loan operation by Jer http://www.pdlindustry.com/ftc-goes-after-indian-tribe/#comment-126 Jer Fri, 30 Dec 2011 06:13:33 +0000 http://www.pdlindustry.com/?p=722#comment-126 You're right, Nick! The payday loan "brick-n-mortars," in addition to the Internet Lenders employing the state-by-state licensing models, are in regulatory hell. However, I expect the state AG's and legislators will pass favorable legislation eventually, in an effort to circumvent tribes and offshore Lenders from gaining access to consumer data. Maybe the Fed's will get into the act as well. The DOJ's reinterpretation of the 1961 Wire Act enabling online gaming will add additional pressure. REALLY INTERESTING times for those of us in the payday loan space!! Jer You’re right, Nick! The payday loan “brick-n-mortars,” in addition to the Internet Lenders employing the state-by-state licensing models, are in regulatory hell.

However, I expect the state AG’s and legislators will pass favorable legislation eventually, in an effort to circumvent tribes and offshore Lenders from gaining access to consumer data. Maybe the Fed’s will get into the act as well.

The DOJ’s reinterpretation of the 1961 Wire Act enabling online gaming will add additional pressure. REALLY INTERESTING times for those of us in the payday loan space!!

Jer

]]> Comment on Wisconsin has a new payday law by pdlindustry http://www.pdlindustry.com/wisconsin-has-a-new-payday-law/#comment-89 pdlindustry Thu, 09 Dec 2010 19:46:22 +0000 http://pdlindustry.com/?p=532#comment-89 Jim, this post is very helpful for Wisconsin: http://pdlindustry.com/new-wisconsin-law-matrix/. To my knowledge, installment loans were not touched. Now, they're putting some rules out, so that could change. Jim, this post is very helpful for Wisconsin: http://pdlindustry.com/new-wisconsin-law-matrix/.

To my knowledge, installment loans were not touched. Now, they’re putting some rules out, so that could change.

]]> Comment on Wisconsin has a new payday law by Jim http://www.pdlindustry.com/wisconsin-has-a-new-payday-law/#comment-88 Jim Thu, 09 Dec 2010 17:10:35 +0000 http://pdlindustry.com/?p=532#comment-88 Has anything changed on the installment loans for small loan companys. After the first renewall can you convert them to a installment loan? Has anything changed on the installment loans for small loan companys.
After the first renewall can you convert them to a installment loan?

]]> Comment on How would you catch a fake contract by pdlindustry http://www.pdlindustry.com/how-would-you-catch-a-fake-contract/#comment-95 pdlindustry Thu, 01 Jul 2010 23:43:51 +0000 http://pdlindustry.com/?p=572#comment-95 I've heard that running credit checks is a good way to screen employees. I've also heard of employers running criminal background checks. I’ve heard that running credit checks is a good way to screen employees. I’ve also heard of employers running criminal background checks.

]]> Comment on How would you catch a fake contract by Paul Smith http://www.pdlindustry.com/how-would-you-catch-a-fake-contract/#comment-94 Paul Smith Thu, 01 Jul 2010 22:44:29 +0000 http://pdlindustry.com/?p=572#comment-94 I think this stands with any business, but it is very important to trust and have a good relationship with your employees in order to avoid fraudulent contracts. There is no guarantee ever, but I advise to try to use your best judgment when looking for a potential employee. I think this stands with any business, but it is very important to trust and have a good relationship with your employees in order to avoid fraudulent contracts. There is no guarantee ever, but I advise to try to use your best judgment when looking for a potential employee.

]]> Comment on Illinois Gov. signs payday loan bill by pdlindustry http://www.pdlindustry.com/illinois-gov-signs-payday-loan-bill/#comment-92 pdlindustry Wed, 23 Jun 2010 17:01:34 +0000 http://pdlindustry.com/?p=567#comment-92 Al, thanks for the comment. The sad reality is that the state is hurting consumers, more than it's helping them. With rate caps, they just take all the competition out of the industry. It's unfortunate that the Gov does not want citizens to take responsibility for their decisions. It's not surprising considering that the state is close to being bankrupt. Al, thanks for the comment. The sad reality is that the state is hurting consumers, more than it’s helping them. With rate caps, they just take all the competition out of the industry.

It’s unfortunate that the Gov does not want citizens to take responsibility for their decisions. It’s not surprising considering that the state is close to being bankrupt.

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