Credit Access Businesses offering payday, installment, and title loans help US consumers avoid padding the banks fat pockets

by The CAB Man Texas on October 3, 2017

So much time and effort is spent on attacking the “payday loan industry” it is baffling.  Why do consumer advocates and the CFPB refuse to make the banking industry Public Enemy #1 instead?

See below for a shocking breakdown of how banks target and abuse US Consumers with un-godly annual revenue via Overdraft and NSF Fees:

  • $15 billion in NSF/Overdraft fee revenue in 2016.
  • Average fee is $35.
  • That comes to $41,095,890 in fees earned every day for 365 days.
  • That comes to 428,571,428 individual fees at $35 each.
  • That comes to 1,174,168 fees charged every day for 365 days straight.
  • Said for many, that comes to $442 per year – at that rate that comes to 34 million consumers each year.
  • Our industry serves about 15 million people per year and makes $10 billion in fees and interest.
  • Studies show that when applying the same APR% calculation to the typical $100 returned item that a 1600% APR figure is arrived at! (See FISCA).

Why then are the consumer advocates and CFPB so focused on little old us?  Why aren’t the Cities in Texas passing ordinances to restrict bank abuse of low to middle end consumers?  Your guess is as good as mine!

What I do know is that our payday, installment, and title loan services in Texas are directly combating the bank revenues by helping consumers avoid those charges by getting a short term loan cover pending items on their bank account.  Consumer choose our services because we are fair, we are fast, and we understand their needs.  We are 100% upfront (ad nauseum) about the costs and terms of our services.  Banks, not so much…and can you believe those numbers????

Here is a link to this information – from

This blog post was written by Michael Brown, President of CAB Consulting and the Texas Organization of Financial Service Centers.  He can be reached at 214-293-8676, or

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