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Some short notes on how payday lending is coming back to North Carolina, the odd case of the low price for shares in Western Union, White River Capital completes it sale, and highlights from NetSpend's investor call:
payday in NC could be back: In a reversal of a trend across the country where
Key provisions from the CFPB's rule making on remittances say that agents will have to make uniform disclosures to their customers. According to the final rule, agents must indicate the following:
- Cost of the service
- Exchange rate
- Amount that the recipient will ultimately receive
These are not the only aspects of the rule, but for today's purposes I am only interested in disclosure.
What does it mean when Western Union announces that its revenue is going to drop off in the near future?
For the company, it is clearly bad news. Even though Western Union announced an increase in their dividend and earnings that beat estimated forecasts, its shares have fallen more than twenty-five percent today. WU
- Western Union EVP Stewart Stockdale says that the remittance market in Saudi Arabia is the second largest in the world.
- Stockdale later went on to question the value proposition of most prepaid debit cards. "I am a big critic of the prepaid industry, because fees and attrition are too high. Prepaid has scale because of heavy fees," he said, "but you can't have attrition of 30 to 40 percent every quarter." His point was that the