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Jer Ayles-Ayler
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Trihouse Consulting
Trihouse Consulting

74 followers
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The second-longest U.S. economic expansion has played out unevenly across states. Growth has been strongest in North Dakota and a group of mostly Western states and weakest in Connecticut, as measured by the rate of change in each state’s total personal income since the start of the Great Recession. In the first half of 2018, all but a couple of states shared in widespread gains.

The national recovery has been long-running, but growth in total U.S. personal income is still off its historic pace. As of the second quarter of 2018, the combined personal income of U.S. residents rose by the equivalent of 1.9 percent a year over the 10-plus years since the recession began, compared with the equivalent of 2.3 percent over the past 20 years, after accounting for inflation.

The rates represent the constant pace at which inflation-adjusted state personal income would need to grow each year to reach the most recent level and are one way of tracking a state’s economy.

After tumbling nationwide except in West Virginia during the depths of the recession, personal income totals have recovered in all states but have grown at far different rates.

Eight states’ growth since the start of recession beat the 20-year U.S. rate as of the second quarter of 2018, and nearly all were in the West. North Dakota once again led; the sum of its residents’ personal income has increased the equivalent of 3.3 percent a year. Connecticut and four other states recorded the weakest recovery, with growth rates at or below the equivalent of 1 percent a year. None of those states are in the West.

Since a slowdown in 2016, when personal income in nearly a third of states declined in at least one quarter, growth has accelerated and gains have been more widespread. So far in 2018, only two states...
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By: Dennis Shaul CFSA
“The small-dollar lending industry has long known that government bureaucrats with a partisan agenda were determined to bring the industry to its knees, but this illegal campaign went farther than anyone could have imagined — with those at the very highest levels of the Department of Justice, FDIC and Office of the Comptroller of the Currency targeting customers of regulated banks based on their personal bias.”

“Government officials abused their power...
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If you’re a brick & mortar lender, your future is dim. Same day funding is here. Your borrower’s phone will continue to be their 1st choice as a conduit to getting MONEY into their account or on their card. Your demographic is dying. I’m not saying your store will close tomorrow BUT you must begin to address this reality TODAY and focus on building the skill sets required to succeed as a lender in this new reality. Need help with this? Selling? Buying? Reach out! DISCREET is my middle name: Jer at Trihouse Consulting
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One common misconception these newbies have, among many, is that the typical payday loan customer is “down and out;” that they’re the “dregs of society.” These entrepreneurs usually begin the conversation by describing a “great location” they’ve already “locked-up” in what can best be described as a “skid row area.”

Man, they don’t get it!

Payday loan customers have jobs. Payday loan customers have...
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No better time to be alive! Just do what you dig and it's not "work." Know your space better than anyone. Give all you have; don't demand $$ every time you give of yourself. QUALITY ALWAYS! Be of service and help the folks following you. Mentoring for free is selfish. It makes YOU FEEL GREAT when you help folks!
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U.S. District Judge Lee Yeakel reversed a previous order and granted, in part, the request by acting CFPB Director Mick Mulvaney and two payday loan industry trade groups to delay the payday loan rule’s August 2019 compliance date. “We sought a delay in order to help consumers in general, and borrowers specifically, enable lenders to continue to solve sub-prime borrowers access to credit throughout the USA and from having to comply with an old CFPB rule before their revisions were even finalized!
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Can you imagine? A credit union worse than a payday loan lender?

Of course! It's a fact!!

The Times report includes the story of Amos Troyah, who works as a dishwasher at the Philadelphia Marriott Downtown, who made $30,000 in a recent 12-month period.

“Roughly $2,000 of it was spent on an especially frequent expense: fees on his checking and savings accounts at the ($192-million) Marriott Employees’ Federal Credit Union,” the Times stated. “The fees came in increments like $6 and $10 — minimum-balance fees, excess-transaction fees, automatic money-transfer fees. On occasion, they were joined by that pooh-bah of personal finance charges, the overdraft fee, at a hefty $35.”

These are bankers we're talking about. NSF fees exceeding 1800% APR's. And, as of the 1934 Federal Credit Union Act, CU's don't pay corporate income taxes! Payday lenders, installment loan lenders, line-of-credit lenders... take a beating in the daily press! It's a constant drum beat of passing laws to help banks serve the "underbanked." B.S. Banks & credit unions HATE payday lenders because we cut into bank & CU profits AND our customers LIKE US MORE! One funded $100 payday loan that costs a consumer $15 for 14 days "saves" this consumer from as many as 3+ NSF's! That's $15 vs $105
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