A major misconception of the payday loan industry is that it’s not regulated. Consumer groups want to undermine payday lenders, so they really don’t mention this to their readers. In Colorado, the regulatory body, refunded around $1.8M to borrowers. Basically, how it works is that if a lender makes an error, they reimburse the borrower. […]
Category Archives: payday loan software
Payday Loan Franchise
Recently, I had a customer that got into the payday loan business through a payday loan franchise. He opened a second store and decided that the franchise, outside of sounding like a good idea, really was not. First, a payday loan franchise should give you a brand advantage over other lenders. Unless you can get […]
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Credit Unions competing with payday lenders
Credit Unions offering some type of payday loan alternative is nothing new. What I think is worth sharing are the comments left on this article titled N. Texas credit unions plan to compete with payday lenders. rgvcowboyfan wrote on 7/2/2009 4:21:43 PM:Credit unions do not lend you if you have had a tough financial time […]
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