Leadpile’s Blog

FDIC has rolled out some new programs for consumers. Some selected banks feel that low to moderate income consumers don’t have enough options. Therefore, some banks that are participating in the Federal Deposit Insurance Corp programs are offering some “special” types of loans to consumers. These loans are for those that don’t necessarily have good credit (because their credit is not pulled) and are not able to get a standard type of short term loan. Wallstreet Journal Online is reporting this great news for some consumers that are not able to get quick cash and are considered “under-banked”.
Some statements that some might question are comments such as, “Fees and interest paid to payday lenders and banks for overdraft protection contribute to a larger problem for low-income individuals–those types of loans don’t help build credit scores.” Are even some banks now trying to come up with programs that compete with the payday loan, and are they really trying to find some alternative options for consumers? I guess we will never know, but the one great thing is we are seeing some alternatives being offered to our nation’s consumers that need short term cash. This is exciting for Leadpile to see, and hopes all other banks will follow.

Canada is no longer an out of the way market that U.S companies do not want to do business with. Many of the hot Canadian companies are all coming together to try to sell themselves. These agencies are going to be traveling around the United States to show marketers that cities like Montreal and Quebec are the ideal new hot spot for market testing. Why is this? According to adage.com, “its language barrier prevents much outside media from seeping in, and vice versa — makes it an ideal place for U.S.-based marketers to experiment with new ideas and approaches before rolling them out to wider audiences.”
Several larger companies such as MasterCard and Mazda are way ahead of the game and have been utilizing Canada as a test market for several years now, both with great success. By testing in a smaller market with a smaller budget, marketers are able to see what works and what does not with out throwing their whole budget out the door. This also allows companies to try a more “out of the box” method.
LeadPile is a head of the game when it comes to working in Canada. Currently we are generating Canadian payday leads in Ontario. We are finding great success generating leads in Ontario and have plans to expand to some of the other Canadian markets.

In recent news, there are new payday lending laws in British Coumbia Canada. With these new regulations there are caps on interest rates and rules prohibiting predatory lending.

B.C.’s Business Practices and Consumer Protection (Payday Loans) Amendment Act and the Payday Loans regulation prohibit lenders, including phone and Internet lenders, from:

· Practices that unreasonably increase the borrower’s debt load, including rollovers that require borrowers to pay significant extra fees for extending the time to pay a loan.

· Requesting an assignment of wages, or collecting from a borrower’s employer.

· Operating unless licensed by Consumer Protection B.C.

Leadpile Lead Exchange has recently started generating payday loan leads in Canada, and is very much concerned with any legislation that is going on there. Just like US payday loans, we know that payday loans can be a much needed loan for many consumers. We will continue to try and match these consumers that need these short term loans, with those that can provide it to the consumer.

Payday loans are something that we discuss a lot on this blog, and are happy to let our readers know that we are expanding our payday loan/cash advance market into Canada. There was a high enough demand to warrant Leadpile to venture into this fairly unsaturated market. We are proud to be able to help those in Canada get connected with those lenders that want to provide them with one of these short term loans. If you are already a Leadpile publisher, you can access this new offer in your seller account. If you are not currently a part of the Leadpile Marketplace, contact us immediately!!! We look forward to this great new market that we are now venturing into!

Payday loans get a bad name, but are a necessary option for many individuals. Recently there has been a lot of bad press about payday loans and the high interest rates that are associated with them, however not all is bad about these loans. Payday loans help many people in tough times, times when they have no other option or places to turn.

According to Online PR News , a recent study shows that people living in states that currently have banned payday loans, turn to more desperate measures having far worse long term effects on the individuals financial standing. Over drafting accounts and bouncing checks is not a better option.

The benefits that payday loans can bring are enormous, allowing people to get help in times of need. At LeadPile, we generate thousands of payday loan leads and match these leads up with payday loan companies able to help them get through what they are dealing with. Payday loans are an asset, and are necessary in today’s economy.

Payday loan providers know that this the big season is just around the corner for them and they are willing to put in a fight to make sure that no one interferes with that. Every state has their own rules and regulations when it comes to getting a payday loans. One thing that they all have in common is that they all have interest rate caps, all except for Wisconsin that is. Currently, “Wisconsin remains the only state in the nation that doesn’t regulate an industry that lends money for two weeks at a time, frequently extends balances for big fees, and winds up getting as much as 520 percent interest on its loans.”
Payday loans are meant to provide individuals with fast cash and it is expected to be paid back fast as well. They are not meant to be used time and time again, but rather as a one time quick fix. There only becomes an issue when the consumer takes out loan after loan that they know that they will not be able to pay back in a timely manner.
So would a interest cap rate hurt or help the payday loan industry of Wisconsin? In most cases it would probably stay neutral. Many lenders believe that it would create more bounced checks where in fact, if they were to just look at statistical data from other state lenders, they would see how there was not an increase in bounced checks.

OLA (Online Lenders Alliance) is an organization that has been around since 2005 representing the online lending industry. Leadpile is a proud sponsor at this year’s fall conference in Colorado Springs, CO. Attending and sponsoring such an event, allows us to be amongst others that are working on initiatives to help build the payday loan industry in a positive manner. This upcoming conference will be a great opportunity for Leadpile to meet with those that we are working with now, and those that we can potentially team up with in the near future. We look forward to meeting everyone at the conference!

Till the season to be jolly….. Payday loan season has arrived. Networks, lenders and all those that are in the payday loan industry are fast approaching the busiest period of the year. The need for a payday loan becomes more and more in demand during the holidays, because people need to take out a quick short term loan to get things such as Christmas gifts.


Leadpile is proactively trying to keep up with the demand of the payday loan lead buyers/lenders, and the publishers that are requesting more resources to generate these leads. We are happy to introduce some pre pop sites (www.1500check.com AND www.uscashapproval.com) which makes the user experience much better when it comes to filling out the required information, and some new Microclick iForms for publishers to place on their websites. These are a great addition to the Microclick forms, ads, banners and landing sites we have available for our publishers.
Till the season to be jolly! Let’s talk payday loans!!!!

The generation gap between the boomers and younger generations is becoming more apparent and widening the gap even more with the effects of the recession. Dropping home prices and stock values give employed people in their younger years an opportunity to invest and purchase in ways that would not have been possible to them without the drastic decline in value from the recession. On the opposite end of this scale, the aging generations such as the boomers are taking a large hit, watching their homes and 401(k) accounts drop by huge percentages in value.
First-time home buyers being offered $8,000 tax credits, and the stock market at all time lows adds extra benefits for generation X’ers looking to get a head start. People in their 20’s or 30’s have plenty of time to get in now and watch their investments grow, giving them a huge advantage to someone in their 50’s or 60’s looking to retire.
According to msnbc.com the Consumer Price Index has recorded a rare drop over the past 12 months, 1.5 percent. The decline for many goods and services has been much greater, allowing young people to put even more money into stocks and housing.
For those who are fortunate enough to have remained employed and have the opportunity to invest have a great advantage….For those who have been working all of their lives to retire and now are faced with hard decisions and losses, it feels as though they are being taken advantage of. It’s scary to think that even the best layed out plans could turn bad.
Recently there has been enormous amounts of discussion surrounding Payday loans, and the push by some to get rid of this option. With the economy in the state that it is, and people’s budgets and financial futures in question Payday loans are the stepping stone to help people get from point A to point B. They may not be the perfect solution to the problem, however at the time, they may be the only.

We all know there has been legislation going on with the payday loan industry, however it still does not take away the fact that consumers still need short term loans. If consumers still need a short term loan, like a payday loan or installment loan, then what are they supposed to do if these types of loans are banned in their states? WTAM.com is reporting that in the state of OH they are still struggling with consumers needing loans, but the loans are facing tough scrutiny.
Leadpile Lead Exchange recognizes that there are some state restrictions going on with this industry, but if there is going to be tough regulations, then shouldn’t there be some other type of short term loan that the consumers can look at taking out? If there is one door closing on the consumers, then there needs to be some other options available. What should be the available option to them? Ohio sounds like it might have a challenge on it’s hand to try and figure that out.

Many conversations recently have involved payday loans and how they are just not right for consumers, yet articles like this one today make you think that maybe a payday loan is not really a “bad” option for a consumer. With this recent news that banks are under fire for the insane overdraft fees they charge consumers, payday loans are looking pretty good right now. Banks are projected to be generating up to $38.5 billion dollars in fees being charged to our nation’s bank customers. Congress is not liking this, and is looking at cracking down on all the banks that are charging these fees. What appears to be happening is consumers are using their debit cards and not having enough funds to make the purchase, yet the banks allow the transaction to take place and then charge the large overdraft fee. Maybe banks should not allow these sorts of transaction to take place, which in turn are getting the consumers more and more in debt?

I found this article interesting about payday loans maybe being offered at our nation’s banks. A few of the nation’s largest banks — including Minneapolis-based U.S. Bancorp, Wells Fargo & Co. of San Francisco, and Fifth Third Bancorp of Cincinnati — are now marketing payday loan-type products, with triple-digit interest rates, to their checking account customers. Really it is something that should have happened a while ago, or maybe now this is the perfect time to really give the industry a little better image. We have all discussed the need for these short term loans, however now that our banks will be looking at offering these types of loans, what does that do to the future our payday loans? Is this maybe the beginning of the segway into installment loans? What does something like this really mean?
Leadpile will probably be watching something like this because this could open up some doors on who to work with, but also how is this going to affect the future of the payday loan lead generation business? I think this is a GREAT thing to hear about regarding payday loans! The rest of America is waking up to the need for this sort of short term loan. It’s about time!!!!!!!