OCCC releases CAB Quarterly Report data for 3rd Quarter 2016
The OCCC has released the CAB Quarterly Report data for 3rd Quarter 2016 – some of the highlights are below!
- The average Payday Loan was $439 for single pay transactions and $557 for installment loan transactions.
- The average Title Loan was $1,230 for single pay transactions and $1,008 for installment loan transactions.
- The average CAB fee for Payday Loans was about $24 dollars per $100 borrowed on single payment transactions and $166 per $100 borrowed on installment transactions (which is about $14 per $100 every 14 days).
- The average CAB fee for Title Loan was $17.13 per $100 borrowed on single pay transactions and $88 per $100 borrowed on installment loan transactions (which is about $17 dollars per 30 days).
If anyone is interested in looking at the reports for a specific Metropolitan Area such as comparing Dallas versus Houston or El Paso to Austin, that information is available in the “MSA” report see below!
Statewide report link: http://occc.texas.gov/sites/default/files/uploads/reports/cab-q3-state-2016.pdf
MSA report link (regional breakout): http://occc.texas.gov/sites/default/files/uploads/reports/cab-q3-msa-2016.pdf
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 Michael@CreditAccessBusiness.com.
