Important Developments on PDL Access to Banking
Published: Mon, 11/28/16
November 28, 2016!
Payday loan lenders, installment lenders, car title 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.
An injunction was issued Friday by the CFSA vs. the FDIC in Federal Court 11/23/16.
The Community Financial Services Association of America (CFSA) and Advance America said "a preliminary injunction was needed to end the back-room campaign of coercion by the Federal Reserve, the Federal Deposit Insurance Corp, the Office of the Comptroller of the Currency, the CFPB [ruled unconstitutional by a D.C. Court] and competitors masking themselves as so-called consumer protectionists.”
Get the facts, more on this development, read my thoughts, gain access to the Injunction, and make some money in the micro-lending space via this link to our Blog here:
http://paydayloanindustryblog.com/bank-accounts-for-payday-loan-lenders/
It’s rumored that the big, multi-billion dollar online Fintech lending companies – SOFI, Lending Club, Prosper, Marcus, Avant, Enova… are adding additional pressure to wipe-out the small dollar lending industry; including the small...
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