Posted on November 20, 2014

On Tuesday, seven banks renewed their credit agreement with World Acceptance. The new $630 million line of credit runs through November 2016. While BB&T had been party to the previous relationship, it declined to participate this time. As well, TD North says that it will drop out in June of next year.

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Posted on November 14, 2014

My reaction's to the CFPB's proposed rule-making on prepaid cards. Bottom line - I think it is a good set of ideas.

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Posted on November 12, 2014

Wherein I discuss who the CFPB might design its proposed model disclosure for prepaid cards, how many items they will choose to include in the disclosure, and what elements bear watching for inclusion or exclusion.

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Posted on November 6, 2014

The CRA does not fit with the model of a bank that interacts with its customers in a branch-less mode. Here are a few examples of that poor fit.

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Posted on November 4, 2014

Regulators appear poised to finally accommodate the branchless distribution network of prepaid cards to the framework of the Community Reinvestment Act.

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Posted on October 30, 2014

Six ways that people will commit tax fraud in the coming year.

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Posted on October 24, 2014

I looked at the S-1 released by Citi in connection with their proposed initial public offering ("IPO") of shares in the OneMain Financial subsidiary. OneMain is a national consumer finance company with more than $8 billion in loans on its balance sheet. They also sell several types of add-on insurance products. Here are a few of the things that stood out to me.

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Connecting the Dots: How Wall Street Brings Fringe Lending to Main Street

At-risk students, for-profit college

"I Feel Like I was Set Up to Fail: Inside a For-Profit College Nightmare."

This story was published in Salon Magazine on January 27th, 2014. In March, Senator Richard Durbin cited this story when speaking on behalf of his bill, The Student Loan Borrowers Bill of Rights.

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