The Customer Effect

With new CFPB rules, payday lending looks to new business models to survive

  • The CFPB's new payday lending rules will require payday lenders to assess a borrower's ability to pay.
  • The new rules put pressure on payday lenders to invest in underwriting technology, a financial burden that may push some toward longer-term installment loans and put others out of business.
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With new CFPB rules, payday lending looks to new business models to survive

 


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The Customer Effect

How Kasheesh’s Sam Miller analyzes shifts in consumer credit behavior and payment strategies

  • This article explores how Kasheesh is addressing the changing dynamics of consumer credit behavior and payment strategies in the financial services industry.
  • CEO Sam Miller provides insights into emerging trends like the rise of Buy Now, Pay Later (BNPL) and AI-driven credit utilization tools, highlighting their impact on both consumers and traditional financial institutions.
Zachary Miller | August 30, 2024
Creating win-win partnerships, The Customer Effect

Behind the US Bank, Greenlight partnership

  • Serving Gen Z has created a conundrum for banks: they know they need to have an offering for younger customers but they don't quite know what to build for them.
  • U.S. Bank recently partnered with Greenlight to roll out a family banking offering to its customers within its mobile app.
Zachary Miller | June 25, 2024
Artificial Intelligence, Member Exclusive, The Customer Effect

How to build a chatbot: Lessons from Bank of America, Klarna, and Lili

  • Everything from the UX, to the scope of a chatbot can impact how meaningful customers find interacting with a digital assistant.
  • While larger companies are able to heavily involve their own product and software development teams in building a chatbot, smaller firms in the industry should keep their focus narrow, find the right partners and ensure they are responding to how customers are engaging with heir chatbot.
Rabab Ahsan | June 04, 2024
Banking, Lending, The Customer Effect

Unpacking the consumer impact of the Capital One and Discover deal

  • The Capital One-Discover deal may be driven by the complementary attributes of their customers, potentially leading to changes in product offerings and services to better serve consumers.
  • The combined entity could introduce a rewards based debit card as well as relaunch Discover's credit cards for SMBs. Beyond products however it is unlikely that the UX will change dramatically.
Rabab Ahsan | May 14, 2024
Podcasts, The Customer Effect

‘Having a relationship with that next generation is good for banks’ immediate bottom lines’: Greenlight’s Matt Wolf

  • Banks struggle with providing the type of financial education and familiarity younger customers say they want.
  • Greenlight's Matt Wolf joined Tearsheet on stage at our Gen Z Symposium in NYC to discuss how FIs can better serve this younger demographic.
Rabab Ahsan | April 01, 2024
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