Tagged: payday loans

UK’s Largest Payday Loan Provider QuickQuid to Shut Down, Despite Thousands of Pending Complaints

The United Kingdom’s largest remaining payday loan company will be shutting down its operations, despite thousands of complaints regarding its lending procedures still unresolved. Chris Laverty, Trevor OSullivan and Andrew Charters of Grant Thornton were appointed as joint administrators of QuickQuid on 25 October 2019,… Read More

SEC Charges Florida Lawyer for Greenlighting Sale of Unregistered Securities

The Securities and Exchange Commission (SEC) has filed civil charges against a “long-time” Florida securities lawyer accused of aiding and abetting”  an alleged $322 million USD securities fraud. Criminal charges were laid simultaneously September 17th against Attorney Jan Douglas Atlas, 74 of Ft. Lauderdale, Florida. The… Read More

Wonga: A Post Mortem

Wonga enjoyed a meteoric rise to fame. The company achieved £300 million of revenue in 2012, just six years after it was founded. Managing growth of this nature is enormously challenging and one doesn’t need to look far to spot similar issues at other warp… Read More

CFPB Publishes Report Critical of Payday Loan Sites

The Consumer Financial Protection Bureau (CFPB) has published a report on the online payday loan industry. The document, embedded below, analyzes ACH payment requests by a number of online lenders that make (or made) online payday or other high-cost online loans with payments scheduled on… Read More

Funding Circle’s Sam Hodges Presents at the House Committee on Small Business​ Hearing

In a Wednesday hearing titled “Bridging the Small Business Capital Gap: Peer-to-Peer Lending,” Funding Circle‘s co-founder and managing director Sam Hodges presented to the House Committee on Small Business​. According to the committee’s website, “The purpose of the hearing was to examine the rise of peer-to-peer lending platforms… Read More

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