Website Design to Ensure Compliance with the O.C.C.C.
Website Design to Ensure Compliance with the O.C.C.C.
C.A.B. Consulting and Brokerage works with Texas Credit Access Businesses on their licensing, compliance, operations, and third party lender needs. Recently they partnered with Orangebook Website Design to offer Texas CAB’s dynamic websites at a discounted price.
Per its Rules for Credit Access Businesses, the O.C.C.C. asks that certain documentation (Consumer Disclosures, Licenses, Fee Schedules, and Notices) not only be displayed in-store but also on websites through which Texas CABs advertise their services. Orangebook Website Design has been educated on the regulations and will redesign or build a new website for your business that ensures compliance in the internet marketplace.
Orangebook Website Design is offering Texas CABs a greatly reduced price for a new website build. Orangebook Website Design has reduced the list price for a 5 Page website from $975 to $745 for C.A.B. Consulting and Brokerage referrals.
5 Page Features ($745)
- Complete Custom Web Design (No Templates)
- Home Page Flash Intro
- Unlimited Design Revisions
- Contact Page with Contact Form
- Search Engine Friendly Web Site
- Social Media Links to Facebook, Twitter, and MySpace
- Dedicated Contact Personnel for Your Project
- Free Online Payment Interface
- You Own Your Web Design – Onetime Cost for Web Design
An 8 Page website originally priced at $1,540 is now reduced to $1,185 for C.A.B. Consulting and Brokerage customers.
8 Page Features ($1,185)
- All Features Listed for the 5 Page Website Design
- Unlimited Photo Galleries
- Video Upload
- Unlimited Slide Shows
- PDF File Download
Website redesigns start at $595 and include all the features of a new website build. E-Commerce Websites are available at a reduced rate of $1,775, and, in addition to all the listed features for website design, includes a Shopping Cart System.
Website Hosting services are also available through Orangebook Website Design:
Basic Hosting ($37.50 a month)
- 24/7 Web Maintenance
- Unlimited Changes
- SEO
- Contact Management System
Premier Hosting Services ($89 a month)
- Development of a Marketing Plan
- Organic SEO
- Content Development
- Web Analytics and Analysis (evaluate weekly/monthly web traffic)
Orangebook Website Design provides personal website design services and has a portfolio of current websites, which include a wide variety of industry. Contact Orangebook Website Design at 949-715-5676 to further discuss the C.A.B. Consulting and Brokerage Website Design Discount.
ACH Processors are shutting down licensed operators too
ACH Processors are shutting down licensed operators too
Many of you know there have been some recent ACH payment processor problems that have developed in our industry. In particular, online operators are being hit the hardest. I had (2) clients check in with me this morning regarding the shutdown of their ACH capabilities.
I was surprised to see them shutdown, as clients of CAB Consulting are licensed businesses. It has been my understanding that only unlicensed and unregulated online payday loan companies were the targets of these shutdowns, not compliant and legal licensed operators. It appears ACH companies are having a knee-jerk response and are suspending services first, then asking questions later.
If you have been impacted by this, there are some options in the market that I can tell you about. Also, check in with your ACH provider to to make sure you are informed about where things are now, and to avoid being blindsided.
Contact Michael Brown at CAB Consulting, 214-293-8676, or Michael@CreditAccessBusiness.com.
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Bank Fees are rising and so is use of Alternative Financial Services – coincidence?
Bank Fees are rising and so is use of Alternative Financial Services – coincidence?
I was reading this CNN Money.com article today: http://money.cnn.com/2012/08/13/pf/bank-fees-rise/index.html
This is an issue that I am very familiar with and the result is more customers for Texas Credit Access Businesses.
Monthly service fees on accounts with balances below $5,000 are the banks targets for the monthly service charges, which certainly fits the low and middle income profile of the typical payday consumer. And, don’t forget that NSF and Overdraft fees at many banks are have drifted up into the $35-$40 range.
Options like pre-paid debit cards are becoming more attractive compared to the bank branch, and in many cases the pre-paid cards offer more ideal online account management and smart phone capability, all with lower monthly service charges.
Consumers are learning there are more convenient and less costly options out there, and a migration towards cutting edge alternative financial services is happening. Shape your business accordingly, get creative, and stay convenient!
I refer to the information below very often in conversations – it is published by FISCA and illustrates the real deal on banking related charges versus payday advances – the APRs are less in many cases! Be sure and have these statistics ready the next time the APR topic comes up – and then nail it.
$100 Payday Loan (14 days) = $22.88 Fee (596% APR)
$100 Overdraft Protection = $29.00 Fee (756% APR)
$100 Bounced Check = $54.87 Fees (1,431% APR)
Sources:
(1) Bankrate.com, 2007 Courtesy Overdraft Study – based on average first draft
(2) Average NSF fee $28.23 (Bankrate.com, 2007 Checking Study), based on average first NSF charge, and average merchant return check fee of $26.64 (2006 CFSA fee survey).
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Legislative Session: (3) bills as of last week, this is the 4th
Legislative Session: (3) bills as of last week, this is the 4th
New bill: HB 877, from Chris Turner (Democrat out of Tarrant County, Represents Grand Prairie & portions of Arlington).
Caption: Relating to prohibiting certain telemarketing calls by a credit access business.
A credit access business or a representative of a credit access business may not make a telemarketing call, as defined by Section 304.002, Business & Commerce Code, to a consumer whose name and telephone number are on the Texas no-call list maintained under Subchapter B, Chapter 304, Business & Commerce Code.
The full text of the proposed bill mentions that you would be able to contact consumers with whom you have had done business with in the past, so long as it has not been more than 1 year since the last transaction.
Comments: Our clients and Members to not typically “telemarket” or use outside telemarketing firms. We are not aware of many CABs who do this but would be interested to see how “telemarketing” is defined. Stands to reason that if someone has asked not to be telemarketed to that they are not telemarketed to. Not sure why it is worth the effort to put this bill out.
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.
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