Tag Archives: banking

Bank Accounts for MSB’s, PDL, Check Cashers: “Bank Discontinuance Solved.”

A seriously experienced provider [20+ years in the industry] for MSB bank accounts, money transmitters, check cashers, ACH services, Pin Debit & EBT, ATM services… reached out to me today for introductions to our industry. If you’ve ever received a 30 day “Bank Discontinuance Notice” from your bank you’ll recall that sick feeling in your gut! And […] Continue reading

Payday Loans vs Bank NSF and Overdraft Fees: Reported by CFPB

You think payday loan, installment loan and car title loan APR’s are high? Check this out! The USA’s 628 biggest banks reported – after being forced to by the FFIEC – $11.2 BILLION dollars in NSF and overdraft fees in 2015 Continue reading

Payday Loan Operation Choke Point-Update

Operation Choke Point Lawsuit Update via Judge in District of Columbia. Judge Kessler in the District of Columbia, denied a group of payday lenders allegedly affected by the Department of Justice’s (DOJ) controversial Operation Choke Point. Banks for payday loan lenders. Continue reading

Bank Accounts for Payday Loan Lenders

By: Jer Ayler at Trihouse Consulting Payday loan lenders and micro-lenders continue to suffer from “bank discontinuance” issues as a result of “Operation Choke Point” launched by the Obama administration in August 2013. The Community Financial Services Association of America (CFSA) and Advance America said ” a preliminary injunction was needed to end the back-room […] Continue reading

PDL-Biz: 2:00 Minute Video Can Save You $2.8M Dollars.

Need money? GROWING your operation? Continue reading

Bank Discontinuance: Anti-Money Laundering Compliance Program

“Bank Discontinuance” Issues and Strategies for avoiding this devastating occurrence in your small dollar lending business.  NOTE:  This document is intended to outline steps you can take to ensure that your compliance program is adequate. Continue reading

Operation Choke Point Explained Simply

Operation Choke Point was implemented more than 24 months ago and yet it is still not understood. Continue reading

Banks for Payday Loan Companies

Payday Loan Business Bank Accounts Banking Building and maintaining relationships with banks for MSB’s and payday loan companies is challenging to say the least! Banking reform for the payday loan industry is likely on the way. There are only a handful of financial institutions in the country that are openly working with payday loan companies, check cashers and MSB’s. “There are very smart bankers that have looked at this in different states, and I think before long, the light bulb will come on,” said the head of the banking industry association Continue reading