Are Changes to Payday Lending Laws Coming?Changes to the payday lending laws proposed by Senator Dick Durbin and supported by President Obama have been a popular topic recently. The proposed 36% cap on annual interest rates would undoubtedly mean many payday lenders could not survive…at least not in their current form. But the wise lenders realize that these new payday lending laws may create opportunities. And as some people panic, the smart ones will seize the opportunity and most likely transition into other types of consumer lending.Kwik-Loan is a complete suite of software modules that were designed to help consumer lending institutions manage their business more effectively and efficiently. The tools include web development and internet marketing geared toward helping lenders find new business. They also include software that automates credit decisions, and enables lenders to share information more efficiently with dealers and branches. Please contact us if you would like to learn more about what opportunities may result from the changes to payday lending laws. Click here to learn more about how Kwik-Loan can help you transition your payday lending business. |
White PapersPublished February 26, 2009
Published February 26, 2009
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