Posts Tagged ‘Online Lenders’
25
Aug

According to the Federal Bureau of Investigation, there have been 1304 Robberies, Burglaries, and Larcenies of Banks and Credit Unions this year.

Loot was taken in 1,200 (92 percent) of the 1,304 incidents, with $9,494,670 in cash and $40,000 in traveler’s checks, Of the loot taken, 1.5 Million has already been taken by authorities.

The FBI reports 1,548 persons have been identified by race and sex. In a small number of cases, the use of full disguise makes determination of race.

The FBI Investigations to date have resulted in the identification of 616 (40 percent) of the 1,548 persons known to be involved. Interestingly, of the  616 identified persons, 206 (33 percent) were determined to be users of narcotics and 113 (18 percent) were found to have been previously convicted in either federal or state court for bank robbery.

Recently, there has been a slew of Robberies reported at Brick and mortar Payday Locations. Expect these brick and Mortar Companies to continue their initiatives online as the expenses, security, and overhead continue to increase in the Offline Payday lending Industry.

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07
Aug

Who is the Online Lenders Alliance?

According to the Online Lenders Alliance website, the organization has been around since 2005, when it began working on behalf of the companies involved with the online lending industry. The Organization represents a growing of U.S. based companies offering consumers short-term loans, also known by many as payday loans, cash advance loans, or micro loans.

OLA  suggests that with more and more companies offering these short term loans, many industry people became very concerned that there was potential for lenders to not act in good faith. OLA was formed to protect the industry against the potential challenges posed by inept lenders. More »

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