While regulators have stopped a debit card program that came with a credit option, they are yet to issue any kind of guidance about the larger issue of credit itself.

We know that the Office of Thrift Supervision forced MetaBank to pull back its i-advance card. The OTS acted last fall after consumer groups decried its payday (more…)

What is the best option for a consumer seeking an unsecured loan?

Peer-to-peer lending bubbled up in 2006 at Prosper, during the innovation-friendly go-go years. The basic idea is to crowdsource debt. Regular folks search (more…)

Debit Card for Prisoners Gaining Interest: Continental Prisons Systems (CPSZ) share prices doubled on Thursday. On Friday, it moved another 34 percent.  Continental Prison has a kiosk and a card that enable prisoners to transfer funds. The cards save prisons a lot of money and help to avoid the issues that come with writing checks to convicts.  For the prisoners, it is a tradeoff: they can support family and friends on the outside, they can walk out with a card and (more…)

CompuCredit hires leading NC lobbyist to work with new CFPB: Former North Carolina Attorney General Rufus Edmisten was seen patrolling the hallways at this week’s State AG meeting in Charlotte. Edmisten was among a handful of lobbyists seeking to influence the ongoing work between the new CFPB and the State Attornies General. Interestingly, Edmisten is (more…)

An investment banking firm says that odds are increasing that Jackson Hewitt will enter bankruptcy after the end of this year’s tax season.

Stephens believes that it unlikely that JTX will be able to repay its debts. The tax preparation chain ended the quarter with $362.3 million in outstanding borrowings. A payment of $30 (more…)