Holdings Hints
Supreme Court Reviews Consumer Protection Agency
Recently the Supreme Court of the United States (SCOTUS) ruled on a case that had to do with the regulations and rules governing the Consumer Financial Protection Bureau (CFPB). For background, the CFPB was introduced in 2008 financial industry regulation package with the goal to specifically “protect consumers from unfair, deceptive, or abusive practices and…
Read MoreFederal Guidelines on Small Dollar Loans
Recently the Native American Financial Services Association (NAFSA) wrote about an update to guidelines on small dollar loans from the US Government. Four federal financial regulatory agencies recently released guidance titled ‘Interagency Lending Principles for Offering Responsible Small-Dollar Loans,’ encouraging credit unions, supervised banks, and savings associations to offer lending products to meet the short-term…
Read MoreCOVID Scams and How to Protect Yourself
Online and phone scammers are a constant pain, and have cost their victims around $10.5 Billion in recent estimates. Many of these types of scams involve someone either cold calling off of a phone list using a robocall, or first attacking someone’s computer with a virus and then demanding the victim call a scam company…
Read MoreFinancial Literacy During Covid-19
Recently the Native American Financial Services Association wrote a post discussing financial literacy. They do a great job promoting financial literacy year round, but they made sure with this recent post to keep financial literacy top of mind, even during the current pandemic, especially since April is Financial Literacy Month. Even though this month there…
Read MoreYour Key to Understanding Nonprime Consumer Behavior
You’ve heard it before: Nonprime consumers can have a difficult time securing traditional credit. The millions of Americans who fall into this bucket lack the credit history they need to secure a traditional loan. Maybe they’re a young person who has never taken out a loan before. Maybe they’re a creditworthy consumer who encountered a…
Read MoreLDF Holdings Compliance Team Offers Tips
LDF Holdings’ online lending compliance leaders Kemberlar Smith and Alison Krich spoke recently at Leaders in Lending Annual Conference in Austin, Texas. We wanted to share what was discussed, because it is so important to a well-run organization. In the presentation, they expounded on how remaining in compliance with state and federal regulations is crucial…
Read MoreThe Corona Virus: The Threat to lenders and their call centers
As the corona virus spreads across Asia the impact on the economy could be detrimental. Several cases have been reported in the US but so far it seems to be fairly contained. If US employers start sending employees home that have signs of fever, respiratory problems or any other signs of the Corona Virus the…
Read MoreSavings Tips To Weather An Unforeseen Storm
Saving money is more important than ever to weather an unforeseen financial storm. One thing people are not particularly good at, however, is saving money. According to a recent survey by the Federal Reserve Board, a large percentage (almost 40%) of Americans would have to either borrow money or couldn’t pay for a $400 savings emergency expense.…
Read MoreAre You Ready For 2020? Best Annual Review Practices
When the general public thinks of New Year’s, they think of the confetti and ball drop of New Year’s Eve or the college football bowl games of New Year’s Day. But for the compliance world, the New Year is a time of newly-passed laws taking effect and internal analyses of your business via annual review. …
Read MoreManaging Debt
Managing debt can be one of the most complicated and difficult part of life that doesn’t get enough attention. Managing debt properly can unlock the ability to obtain capital at necessary and vital parts of your life (buying a home, buying cars, financing education, etc.). However poorly managing debt can lead to restriction of capital…
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