Author Archives: admin

Dear Friends, The CFPB is putting together rules that will cripple our industry.  This will directly affect all our jobs, not to mention limit customers access to credit.  Please take a minute to sign this petition by clicking HERE.  If we can get 100,000 signature, the White House will review the rules to see, if in […]

A Texas lender passed this along…. Texas is adding new rules for CABs.  You can see them HERE. This is totally out of left field.  I thought this was interesting: “The Finance Commission adopted these amendments at its October 16 meeting. Final amended figures are available here. The amendments will be effective November 5, 2015. See the […]

“Consumer complaints are the CFPB’s compass and play a central role in everything we do. They help us identify and prioritize problems for potential action,” CFPB Director Richard Cordray said in a press release announcing the new public database. Sounds like Richard Cordray is speaking out of both sides of his mouth.  The facts do […]

I’ve received a lot of questions on text messaging, so I’m breaking it out into it’s own post.  I’m not listing the legal cases here b/c they’re everywhere now.  If you’re going to send someone text messages, make sure your documentation is clear, conspicuous and unambiguous. Seems here that if there is a question of […]

This is an attempt to educate you and not provide legal advice blah, blah, blah.  Always consult with your lawyer, first. It’s easy to assume that SPAM is unwanted electronic messages, but the operative word is “unsolicited”.  Unsolicited means “given or supplied without being requested or asked for.”  I’m going to focus on email and […]

Must see for anyone that thinks the President has too much power.  These executive orders are used to circumvent the legislative process.  It’s a hilarious parity on the School House Rock public message from the 80’s.

The Washington Post writes, “FDIC attempts to end Operation Choke Point with letter, action.”  So is it? Wow, what a coincidence?  Republicans take hold of the House and Senate and the financial witch hunt ends.  Obviously, this is good news. “The FDIC is issuing this statement to encourage institutions to take a risk-based approach in […]

Bloomberg reports,Banks Face Hit From CFPB on $30 Billion in Overdraft Fees. Here are the highlights….. Richard Cordray, the bureau’s director, said in an e-mailed statement about the report. “Overdraft fees should not be ‘gotchas’ when people use their debit cards.” IDEA:  Maybe we can stick the CFPB on some of the state auditing bodies if […]

In a surprising turn of events Gov. Nixon vetoes payday loan bill.  The bill passed the House 112-39 and the Senate 26-4.  With this much support, this veto comes as a surprise.   The big change here was removing rollovers.  The Governor wrote in a statement: “Missourians want meaningful payday lending reform, not a sham effort […]