Claudia Callaway says…
March 5, 2010 | Uncategorized | Comments (2)Here’s Claudia. She organized the very first conference ten years ago. You can’t tell from the pic but there are 500 people listening.
According to Claudia, some of the challenges we are facing include:
- Internet lenders having to deal with laws that haven’t caught up to the market
- Some regulators misunderstanding the CSO model
- And, of course…the vagueness of the proposed federal legislation
Comments»
Payday Pundit,
The CFSA Conference is a worthwhile investment. Anyone interested in providing consumers with multiple financial choices to meet their particular needs must attend and support these types of conferences and support our industry by being a member.
This year’s event is “not my first race.” And I remember listening to a presentation by MS. Callaway at least 10 years ago. The interesting thing to me is that today’s presentation at CFSA could have been an exact duplicate of the one she gave back then. (Except for a few specific states. And the “Bank Model” did take up a significant portion of her talk years ago.)
Many in our industry get overly negative about our future. They dwell on potential negative legislation, competition from banks and credit unions, etc. JUST LIKE THEY DID AT MS. CALLAWAY’S first presentation.
One thing I’m certain of. Our industry is composed of some very intelligent, creative minds. And, consumer demand for small, non-collateralized loans is unquenchable! All one needs to do to achieve success here is to remain flexible, stay informed, educate yourself by attending industry conferences, and work hard.
No magic!
Jer
Jer, I have to agree with you completely on this!
We in the Payday Loan industry have 2 options….
1. Listen to the critics, and wait patiently for legislation to close our doors.
2. Realize that we offer a viable product to our customers, who are well informed to make the best decision regarding their budget, and that we are not going anywhere anytime soon!!
True, big banks and members of our government are trying to UNFAIRLY shut us down, which is why we should rejoice!! Why you ask?? Because if they had a true reason to shut us down, it would have been done already. Instead, the opposition to the PDL industry has barely a viable argument against our industry and instead must rely on mis-truths, confusing and un-related statistics, and media slander!! I for one could not feel more CONFIDENT in not only the product we offer, but our future as a whole. After all, aren’t these the fleeting, mis-guided, last-ditch efforts of a banking industry who faces losing over $15 billion in overdrafts (rightfully so!) next year to strip away the average American’s right to choose what credit option is best for their own needs? I believe freedom (and our lobbyists) will prevail!
-Gabriel Rodriguez
http://www.synapticdatabase.com
http://www.paydayadvanceforum.com