Link to Embargoed CFPB Rules, Live Feed from Kansas City and the Future of the PDL Industry

Published: Wed, 06/01/16

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OK, tomorrow Thursday morning at 8A.M. PDT is the BIG day for the payday loan, installment loan and title loan industry. The next shoe is about to drop by the CFPB.

It's going to be an UGLY DAY. [Note: Apologies if you received this more than once!! It's important!]

The CFPB is scheduled to reveal their cards regarding our future.

Here's a link to a secret "embargoed" CFPB document that is not supposed to be made public until midnight tonight (Wednesday) https://trihouseconsulting.sharefile.com/d-s03f094f640c422b9

And, here's a link to the live feed from the CFPB Kansas City heraing where the above document and the next nail in our coffin will be publicly displayed:

http://www.consumerfinance.gov/about-us/blog/save-date-kansas-city-missouri/

Look! No doubt, for those of us who have been in the small dollar lending space for years, this development is going to be very hard to swallow. Doom and gloom will be our initial reaction.

BUT! Step back to the 30,000 foot level. Your customer is still here. Millions of them still need money. And your old-school competitors? They're leaving in droves.

The FinTech companies? They do not know what we know. They've never been through a credit cycle. And they are having one hell of a time accessing capital to put out on the street!

The tribes? As long as they can maintain access to an operating account and an ACH processor, they'll be fine.

Google PPC? There are a multitude of ways to deal with their big brother attitude.

What's it all mean? Opportunity!

Take a breath.

Pop a Zanex if need be.

Reach out to your vendors, your consultant, your association... Tens of millions of dollars are going to continue to be made by lending money.

The game has changed but the opportunities are still here. Frankly, I think there are more ways to make money by lending money today than there have ever been.

If this was easy, everyone would be doing it!

So, check out the "embargoed" CFPB rule making document linked to above.

Watch the live stream CFPB Kansas City feed linked to above!

Digest the rules coming in 2017? and get ready to make some serious CASH!

Comment? Question? Help? Jer@TrihouseConsulting.com
PS: If your're ready to throw in the towel, reach out to me! We, and our clients, are BUYING portfolios, platforms and stores. LET ME KINOW...