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Payday Loans

July 16, 2014

Have you ever wondered what's it like to work for an online payday lender? 

I guess we all have. That's probably a universal, along with perhaps what it is like to be shortstop for the New York

May 16, 2014

Payday (short-term) loan data: 

  1. Short-term interest rates: A payday loan has had an APR of 319 percent and 328 percent, respectively, during 2013 and 2014. 
  2. Average loan size is about $410 and the average fee is $51. 

April 4, 2014

Turns out that Lone Star's bid to buy DFC Global comes with a significant regulatory contingency.

In section 6.2 of the contract Lone Star says that it can walk away from the transaction if the UK's Financial

April 2, 2014

DFC Global, the corporate parent of Money Mart and other payday lending brands, has announced that it will be sold to Lone Star Funds for $1.3 billion. That number corresponds to an offer of $9.50 per share. In reality, though, the price is really $367 million, as Lone Star is also going to assume approximately $1 billion of DFC's debt.

DFC Global offers payday loans, pawn loans, check cashing, gold buying, money transfer, and reloadable prepaid

March 7, 2014

An SEC filing released this week by QC Holdings, a Kansas payday lender, suggests that US Bank intends to hold the company to a high standard as a condition of remaining as one of its borrowers.

December 19, 2013

IRS Delays Filing Season: The Internal Revenue Service says that it will push back the start of the filing season until January 31st, 2014. The IRS is putting this one on to Congress and there is probably some validity to that position, given that the duration of the shutdown mirrors the period of the filing delay. People will still be able to prepare their taxes, of course, but

November 14, 2013

My entry earlier this week demonstrated that a lot of people are interested in the topic of lead generation. As as a result, I'm going to publish a Q&A that I conducted with Randy Mitchelson, a Partner and CMO at National Web Leads in Atlanta, Georgia.

I met Randy back in 2012 at CFSI's Underbanked Financial Services Forum in San Francisco.

September 19, 2013

Advocates continue to think about how payday lending can be addressed through rule-making at the CFPB and through legislation at the state level. Two ideas seem worth mentioning. 

Defining the length of a payday loan: Statutes usually have a hard time defining when payday loans end and

September 11, 2013

Great new report released on overdraft: The price of an overdraft increased to cover for lost revenue. Moebs says that overdraft fees increased three percent year over year. Credit unions increased their fees more than banks did. Thus, even though the raw counts of overdrafts declined, absolute revenue derived from

July 26, 2013

Several earnings calls made in the last week show signs that the payday lenders are having some trouble, particularly in the United States.

Cash America told analysts that loan volume is dropping. Fewer people are taking out loans.