The online marketplace is booming and the brick & mortar store must adjust by increasing web presence and using alternative data.

April 9, 2019

We have been hearing a lot lately about the continued decline of retail business in the US.  Zales and Jared jewelry retail stores are the latest to announce closures of hundreds of locations. Online is booming and it seems like Amazon rules the world.  If your business does not have an online presence you are […]

Read the full article →

Mick Mulvaney at the CFPB wants to lean on State regulators like the OCCC

March 29, 2018

One popular counter to the CFPB and it’s regulation of the payday industry is that oversight should be shared with, or even shifted more so, to State regulators versus the much maligned federal agency.   In the case of Texas, that means our friends at the OCCC would be that ideal option. The highly experienced leadership […]

Read the full article →

CFPB and Mick Mulvaney focusing in on Debt Collectors

March 29, 2018
Thumbnail image for CFPB and Mick Mulvaney focusing in on Debt Collectors

It was in the news over the last 24 hours that Mick Mulvaney and the CFPB will be centering their focus on Debt Collectors who have traditionally been in the #1 position, as far as complaints go.  For over two years, it was discussed by the payday industry that our group was, month after month, […]

Read the full article →

OCCC’s 2016-2017 fiscal year data ahead of Finance Commission Meeting on Friday 10/20

November 8, 2017

OCCC and Finance Commission Report Information, Meeting is Friday 10/20 and will summarize data from September 0f 2016 to August of 2017. CAB Examinations:  Down from 707 in 2016 to 652 in 2017 (-7%). CAB acceptable level of compliance: 98.93%. Complaints processed payday: 208 in 2016 and 148 in 2017 (-28.8%). Complaints processed title: 198 […]

Read the full article →

CFPB issued the final Payday Loan Rule today

October 5, 2017

CFPB Rule came out today.  It is 1,600+ pages and I am hearing from folks on it but no one knows a lot at this point.  I need to start reading and as I connect with others to learn more I will of course relay what people are saying. Effective date is 21 months after […]

Read the full article →

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

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 […]

Read the full article →

Texas OCCC issues advisory bulletin to licensees on how to remain in compliance while dealing with Harvey aftermath

September 8, 2017

Our friend ROb Norcross at CSAT sent over some really good details that he had gathered in response to the OCCC issuing advisory bulletins to licensees on how to remain in compliance while dealing with Harvey aftermath.  I scraped some of those details and organized them below for CAB stakeholders in Texas, and business owners […]

Read the full article →

The infamous and continuously failing Texas Payday Loan City Ordinance.

August 22, 2017

Since Texas cities began passing the infamous and continuously failing Texas Payday Loan City Ordinance there has been a decrease of 1,300 or so licensed locations inside the State.  According to the most recent OCCC licensee totals, this represents a 37% market shrink.  The results have been a shuttering of businesses in Texas, a loss […]

Read the full article →

The OCCC is seriously focused on Credit Access Business Examinations right now – are you ready?

August 21, 2017

Over the last several weeks there has been a significant uptick in OCCC examinations of our Credit Access Business friends and clients.  Are you ready for the OCCC to walk in your door?  Chances are if you are a member of TOFSC or if you are a client of of CAB Consulting you are in […]

Read the full article →

OCCC Compliance Basics from CAB Consulting

June 27, 2017

Just a reminder for all of you CABs out there – continually review your Consumer Transaction Information Disclosures & Fee Schedules. Many times throughout the course of the year CAB operators may change their CAB fee amounts or offer different loan products such as offering multi-payment installment loans, payday loans, or auto title loans.  When […]

Read the full article →