Moody's says that it may downgrade Community Choice Financial's debt. Community Choice Financial is the parent of CheckSmart, Cash & Go, Buckeye Title Loans, and Easy Money, among others. Moody's is concerned about the headwinds facing this heavily-indebted company. Moody's says it is a function of credit costs, but reading between the lines, Moody's anxiety also reflects how decisions by banks to disinvest in commercial relationships with payday lenders can quickly lead to challenges in the ongoing short-term high-cost consumer finance business model.
You are here
deposit-related consumer credit
The Office of the Comptroller of the Currency has postponed the due date for comments on it recent guidance about deposit-related credit products.
The action is notable because it pushes the rule-making process off until after the start of the new Consumer Financial Protection Bureau. The CFPB has said that it intends to play