Who We Are

Who We Are

Who is C.A.B. Consulting and Brokerage?

C.A.B. Consulting and Brokerage is a payday industry based business that assists other companies in the traditional consulting sense as they operate in the dynamic financial services sector.  We learn needs and call on our industry knowledge and relationships to provide solutions to our clients.

Also, we operate as a broker who facilitates new relationships between companies and collaborate to help them execute deals.

Our strengths are centered around payday industry licensing, compliance, capital, acquistions, procedures, and operations in the payday and auto title loan industy. It is our goal to build relationships, understand needs, and provide pathways to achieving goals.

C.A.B. Consulting is headed by Michael Brown.  Michael attended high school at W.B. Ray in Corpus Christi, Texas.  He later attended the University of Texas at Austin and graduated with a degree Radio Television and Film in 1996.  In his later years at Texas he began focusing on Advertising Sales and started his career by working for several Radio and Television stations.  In early 2003 Michael and a trusted partner started an online payday loan website named My Cash Time.com.  Starting with just an online lending operation, the company eventually grew into the retail sector where they operated stores in Utah, New Mexico, and Texas.

Michael is married to a stunningly beautiful, intelligent, and wonderful woman named Amanda. Together they have two children, Dylan and Amelia.

Notices and Disclosures for use in Credit Access Business Operations

Notices and Disclosures for use in Credit Access Business Operations

by The CAB Man Texas on December 20, 2011

In addition to the provisional license, last Friday the OCCC worked to get rules for the Notices and Disclosures approved.  The rules, referred to as “7 TAC 83.6001-7 TAC 83.6008,” define the many ways in which a Credit Access Business is required to disclose particular information to consumers regarding the potential loan they are about to apply for, or for the actual loan that consumers agree to.

There are procedural requirements that a Credit Access Business address the nature of the transaction and possible alternatives to this service before the customer completes an application.   Also, the customer must acknowledge they have received these disclosures.

Considerable time has been invested in the development of several documents the OCCC advises Credit Access Businesses to use that are compliant with the law, and accomplish the goals of House Bill 2592.  Focus groups have reviewed the documents, and feedback was provided that shaped the final versions.  In the future it is likely that continued feedback from focus groups will shape these “dynamic” documents in a way that makes sense to all Credit Access Business consumers and stakeholders.

According to the OCCC, there is only one other state in the U.S. that has something similar or nearly as comprehensive.  The process of collaboration between the OCCC and industry stakeholders appears to have resulted in an exceptional set of detailed disclosures, which should please lawmakers and consumer advocate groups.   Fair regulations were passed, and rules were developed to implement the new State of Texas laws.  This high level State government achievement in should be made note of at the local level.  Knowing that such thorough systems are in place, city governments can now move on to more important topics like job creation and budget balancing.

The documents, which focus on single and multi-payment payday and title loans, are available through the OCCC website.  CAB Consulting and Brokerage is also in possession of the documents.  We are distributing them to clients, building familiarity with their intent, and drawing clarity from a 15 page two column set of rules.

If you have questions or would like to discuss, please contact CAB Consulting and Brokerage at 214-293-8676, or via email at cabconbrokerage@gmail.com

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Thank you for visiting Credit Access Business.com !

Thank you for visiting Credit Access Business.com !

by The CAB Man Texas on August 1, 2011

Are you a Texas CSO that is hungry for more information on the new license you’ll need by January?  You’ll need to evolve your CSO into the OCCC’s “Credit Access Business” model and we want to assist you in doing so.

Michael Brown may have contacted you or will be contacting you in regards to our Credit Access Business services.  Our areas of focus are Compliance, Capital, and Collections.

CAB Consulting and Brokerage Goals:

#1 – Learn more about your business and its unique needs.

#2 – Create a step by step plan to get to you compliant.

#2 – Provide you with options for operating Capital and 3rd Party Lenders.

#3 – Improve your Collections processes, and buy your Bad Debt.

We recently attended the OCCC stakeholder meetings and Austin and are informed on what is to come.  CAB Consulting and Brokerage is contacting CSO’s in Texas right now to share what we know, learn their needs, and discuss how we may be of service.

Please contact Michael Brown at 214-293-8676 to learn more today.  Or, email Michael at cabconbrokerage@gmail.com.

Thank you again for visiting Credit Access Business.com!

 

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Notices and Disclosures for use in Credit Access Business Operations

Notices and Disclosures for use in Credit Access Business Operations

by The CAB Man Texas on December 20, 2011

In addition to the provisional license, last Friday the OCCC worked to get rules for the Notices and Disclosures approved.  The rules, referred to as “7 TAC 83.6001-7 TAC 83.6008,” define the many ways in which a Credit Access Business is required to disclose particular information to consumers regarding the potential loan they are about to apply for, or for the actual loan that consumers agree to.

There are procedural requirements that a Credit Access Business address the nature of the transaction and possible alternatives to this service before the customer completes an application.   Also, the customer must acknowledge they have received these disclosures.

Considerable time has been invested in the development of several documents the OCCC advises Credit Access Businesses to use that are compliant with the law, and accomplish the goals of House Bill 2592.  Focus groups have reviewed the documents, and feedback was provided that shaped the final versions.  In the future it is likely that continued feedback from focus groups will shape these “dynamic” documents in a way that makes sense to all Credit Access Business consumers and stakeholders.

According to the OCCC, there is only one other state in the U.S. that has something similar or nearly as comprehensive.  The process of collaboration between the OCCC and industry stakeholders appears to have resulted in an exceptional set of detailed disclosures, which should please lawmakers and consumer advocate groups.   Fair regulations were passed, and rules were developed to implement the new State of Texas laws.  This high level State government achievement in should be made note of at the local level.  Knowing that such thorough systems are in place, city governments can now move on to more important topics like job creation and budget balancing.

The documents, which focus on single and multi-payment payday and title loans, are available through the OCCC website.  CAB Consulting and Brokerage is also in possession of the documents.  We are distributing them to clients, building familiarity with their intent, and drawing clarity from a 15 page two column set of rules.

If you have questions or would like to discuss, please contact CAB Consulting and Brokerage at 214-293-8676, or via email at cabconbrokerage@gmail.com

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Thank you for visiting Credit Access Business.com !

Thank you for visiting Credit Access Business.com !

by The CAB Man Texas on August 1, 2011

Are you a Texas CSO that is hungry for more information on the new license you’ll need by January?  You’ll need to evolve your CSO into the OCCC’s “Credit Access Business” model and we want to assist you in doing so.

Michael Brown may have contacted you or will be contacting you in regards to our Credit Access Business services.  Our areas of focus are Compliance, Capital, and Collections.

CAB Consulting and Brokerage Goals:

#1 – Learn more about your business and its unique needs.

#2 – Create a step by step plan to get to you compliant.

#2 – Provide you with options for operating Capital and 3rd Party Lenders.

#3 – Improve your Collections processes, and buy your Bad Debt.

We recently attended the OCCC stakeholder meetings and Austin and are informed on what is to come.  CAB Consulting and Brokerage is contacting CSO’s in Texas right now to share what we know, learn their needs, and discuss how we may be of service.

Please contact Michael Brown at 214-293-8676 to learn more today.  Or, email Michael at cabconbrokerage@gmail.com.

Thank you again for visiting Credit Access Business.com!

 

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OCCC looking for engagement with Texas Payday Loan and Title Loan CAB’s

OCCC looking for engagement with Texas Payday Loan and Title Loan CAB’s

by The CAB Man Texas on February 13, 2012

Attended last week’s OCCC meeting in Austin and saw stakeholders from a multitude of industries speak up with opinions, questions, etc.  The OCCC had arranged the meeting with the goals of getting feedback from stakeholders in several regulatory areas on where they see their industries now, where they are headed in the future, and how the OCCC is doing.  An open forum was given for stakeholders to speak up, ask questions, and offer opinions…

From the meeting I took away that the OCCC is focusing on:

-Customer Education
-Outreach
-Engagement
-Financial Education
-Increase Online Activity
-Advise businesses to look at existing regulations, not just the new regulations
-Urge businesses to participate in dialogues with OCCC
-Re-iterated that stakeholder input in Texas is unique, not seen in many other states

In the meeting there were many who spoke up, but not what I would call a flood of questions and comments.  The OCCC is really making an effort to ask for industry feedback – take advantage.   The squeakiest wheel gets oiled first!

Questions you would like asked?  Let me know I will send them in on your behalf.    As always I am pleased to take your calls on all matters CAB, and if you want to learn more about the OCCC areas of focus cited above don’t hesitate to call Michael at CAB Consulting and Brokerage at 214-293-8676, or email cabconbrokerage@gmail.com

 

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Acquisitions of Short-Term Loan Portfolios

Acquisitions of Short-Term Loan Portfolios

by The CAB Man Texas on November 10, 2011

Since July of this year C.A.B. Consulting and Brokerage has been working hard to learn the new laws in Texas, understand the rule making process, tell the story to stakeholders in the industry, and grow relationships.  Things have gone very well so far, and I have observed how the role of a consultant evolves from simply sharing information, into that of a co-worker, a trusted resource, and a connector of parties looking to meet a need.   C.A.B. Consulting and Brokerage’s goals are centered on exactly that, helping clients meet different needs.

Over the last 3 months my focus has been and continues to be on Credit Access Business licensing, notices, and disclosures.  I have been working with our clients and assisting them while on their path towards January 1st in many ways.

Until now I have not done any acquisitions, but earlier this week I was contacted by a gentleman in Laredo who has several businesses, one of which is a retail short-term loan operation.   He has made the decision to sell his loan portfolio and has requested my assistance.    I have preliminary information on the sale opportunity and have begun contacting local businesses in Laredo about it.  Also, via this blog and other channels I am reaching out to my contacts to gauge interest.  If an acquisition of his portfolio is something you would like to explore, please contact me with questions!

C.A.B. Consulting and Brokerage

Michael Brown

Tel: 214-293-8676

Email: cabconbrokerage@gmail.com

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Payday Loan Boot Camp Sessions are underway!

Payday Loan Boot Camp Sessions are underway!

by The CAB Man Texas on July 16, 2012

Recently I joined up with Jer from Tri-House and Danny from Paid 2 Day to offer the “Payday Loan Boot Camp.”  These sessions are held in Orange County, California and are conducted in both a store and classroom environment.  The intent of the Payday Loan Boot Camp is to share important knowledge, direct startups on how to get their businesses started the right way, and to provide actual direction on how to run the business day to day.  Existing operators might want to consider sending new hires to the Boot Camp to let it serve as part of their training.

The Boot Camp gives operators the chance to un-plug from the everyday grind and really focus on what we are there to deliver.  Themes of the Boot Camp revolved around these essentials: Knowledge, Insight, Manuals, Regulations, Licensing, Documentation, and Hands-On instruction.

Day 1 of our first Boot Camp was last Thursday.  We focused on a high level view of the industry along with development of company startup strategy based on its market.   Day 2 was centered around operating the business, software, processing transactions, and “live store” activity.

Once we have established our relationship through the Boot Camp process, you will also always be able to count on follow up consultation as needed.

This Camp has been shaped for the Payday Loan startup, but we are also planning other focused camps for Auto Title loan education and instruction, and Texas CAB compliance.  If your organization could benefit from these kinds of sessions, or if you have some other specific company goals you would like custom delivered in the Boot Camp setting please contact Michael Brown at CAB Consulting and Brokerage at 214-293-8676 to discuss!

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C.A.B. Consulting and Brokerage – Michael Brown

C.A.B. Consulting and Brokerage – Michael Brown

by The CAB Man Texas on September 8, 2011

Michael Brown of C.A.B. Consulting and Brokerage has recently stepped away from operating the payday loan business he started in 2003 to begin working with Texas CSO’s as they become “CAB’s” or Credit Access Businesses. Michael has made it a priority to learn as much as there is to know about the rules that Credit Access Businesses will be asked to abide by starting in 2012, and he wants to share that information with you. From there, it is his goal to begin laying the groundwork for your business’s transition, and a long term relationship.

Ultimately C.A.B. Consulting and Brokerage has the goal of meeting your needs beyond Compliance. Can we help you raise Capital? Do you want to sell off your collections portfolios? We will also fight against government regulations and negative public perception. C.A.B. Consulting and Brokerage wants the passage of the Credit Access Business laws to signify the beginning of the newest and best chapter in the life cycle of your company. Contact Michael and let him share with you how he envisions making that happen. Reach him directly at 214-293-8676, or via email at cabconbrokerage@gmail.com.

Focus Areas:

Licensing – if you are a CSO in Texas you are going to need a new license. Do you want to know what C.A.B. Consulting and Brokerage knows and do you want help getting a new Credit Access Business license?

Compliance – there are several new requirements that you need to be aware of in the way of disclosures to customers, and notices to customers. Do you want to know what they are and have you thought about getting assistance with implementing the necessary changes? (step-by-step planning, store and website corrections, owner training, and employee training)

Capital – do you need Capital for growth? Do you need a third party lender? C.A.B. Consulting and Brokerage has at least two parties that want to fund loans through your CSO / CAB – right now!

Collections – C.A.B. Consulting and Brokerage is allied with a very effective Collections company and they would like to have a chance to collect on some of your bad debt, or just buy it from you outright.

Association – C.A.B. is launching an Association for small to mid-size payday loan business owners that will be unlinke anything that has been done before.

Community Action – the Association will battle negative public perception, impact potential negative legislation, and make contributions to community in the form of education and money.

Competition – the Association’s programs will help consumers with more than just loans. An array of innovative programs will give your customers the opportunity to help themselves, make processes more convenient, and help consumers feel better about the relationship they have with their payday lender.

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