Executive Summary The rapid growth of online lending has transformed access to credit for millions, especially those underserved by traditional banks. However, this opportunity comes with unique challenges in compliance, competition, and operational complexity. This white paper provides a holistic playbook for online lenders, drawing on proven strategies and industry […]
Chime is a 4 Letter Word
Here is a list of Fintech partnerships that most lenders want to void….unless they’re already your customer. Payment history trumps their bank account, in our humble opinion. Bank Routing Numbers and Categories Bank Name Routing Number Categorization Fintech Brands Blue Ridge Bank, N.A. 051402372 Banking-as-a-Service Partner Various fintech partners […]
Understanding CPF (Cost Per Funded Loan) KPI
Overview In the lending industry, CPF (Cost Per Funded Loan) provides an at-a-glance measure of how much it costs to convert a single lead into a funded loan. This key performance indicator (KPI) combines several cost components—such as Data Bureau fees, Lead Costs, and IBV (Instant Bank Verification) fees—and divides […]
CFPB Will Not Prioritize Enforcement or Supervision Actions For The Payday Payment Rule
It’s a step in the right direction at the 11th hour, CFPB Offers Regulatory Relief for Small Loan Providers but the exposure to the rule still exists. Under Section 5552 of Title 12 of the United States Code, concerning the Preservation of Enforcement Powers of States under the Consumer Financial […]
CFPB Payment Rule Guidance for Notifications
The CFPB payment rule is set to take effect on March 31, 2025. The rule is currently in limbo, but if you wish to start complying, there are two components to setting up automatic notifications in Intro XL- the email templates- should be templates and the notifications (business rules which […]
Is the Payment Rule in Play on March 30, 2025?
I’d love to tell you more, but my crystal ball is in the shop, and I’m sworn to secrecy—so if you’re looking for details, you’ll have to consult someone with fewer standards and a working glass ball. 😉 Looking for a consultation? Book a Consultation
President Trump Nominates Jonathan McKernan to lead CFPB
On February 11, the President Trump nominated Jonathan McKernan to lead the CFPB. With extensive FDIC and Treasury experience, McKernan is known for cutting unnecessary regulations and promoting market innovation. Until his confirmation, Acting Director Russell Vought—who has already made significant staffing and contract cuts—will remain in charge. McKernan’s appointment […]
Loan Management Software 101: Definition, Types, and Key Features
In today’s competitive financial landscape, loan management software is no longer a luxury, but a necessity. For financial institutions, credit unions, banks and aleternative lending, these digital solutions optimize the entire loan lifecycle, from origination to servicing and collections, leading to increased efficiency, reduced errors, and a better borrower experience. […]
Remove a customer from solicitations
If I customer requests to no longer receive solcitations, you can update the profile to Do No Solicit. Additionally, you can harden this by creating an “Assign To” item that is excluded from Notifications and add add a Customer Alert.
Two Roads to Ending the CFPB’s Unaccountable Power: Defunding Through Reform
For too long, the Consumer Financial Protection Bureau (CFPB) has operated as an unelected agency with a guaranteed operational budget—funded directly through quarterly transfers from the Federal Reserve as established by the Dodd–Frank Act. This funding structure was designed to insulate the CFPB from political pressures, but critics argue that […]