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Banking Payday Lenders and Short-Term, Small-Dollar Lenders

An estimated 120 millions payday loans are issued annually in the US worth a total of $42 billion, yes billion. There are almost twenty major payday lending companies that operate approximately half of the nation’s total of 22,000 payday lending stores. You may want to investigate and evaluate this market since major banks provide over $ 1.5 billion in credit available to fund major payday lending companies. In addition, many banks have payday lender deposit accounts.

This session will give you an inside look at the payday lender operations and familiarize you with the “ins and outs” of this business. In addition, we will analyze the recent regulatory scrutiny that payday lenders have come under.

Quite often, when your customers turn to payday lenders as a solution for their credit needs, they are charged an interest rate higher than yours. Are you able to help your customer with those short –term small-dollar loans? In addition, do you want to bank a payday lender?

What We Will Cover:

  • Banking payday lenders
  • How to evaluate a payday lender using the CFPB examination procedures
  • How payday lenders are funded
  • An inside look at the payday lender operation
  • Payday lender marketing
  • Application process and originations
  • Payment processing and sustained operation
  • Collections
  • Handling accounts in default
  • Consumer reporting

Target Audience:

Senior management, Chief Financial Officer, Compliance Officer, marketing staff, senior lenders, and operations manager

Training on Demand's are limited to Premium Members. If you are interested in learning more about Premium Membership and its benefits, please contact us at Regulatory.Services@capco.com.

Premium Members get access to a number of compliance and risk management resources, including: • Live Webinars • On-Demand Training • Big Orange Book • TRID Calculator • Quick Reference Guides (QRGs) • Monthly Compliance Calendar • Advertising Tutorial

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