Leadpile’s Blog

The FDIC has released a report showing 30+ million people have little or no access to banking services. Unfortunately, this study is also highlighting the fact that many of these consumers are poor, immigrants or minorities. According to NPR news, “In all, 25.6 percent of U.S. households either lack bank accounts or use payday loans, check-cashing services and other costly alternatives to traditional banks, according to the survey.
The report is part of an FDIC effort to bring the so-called “unbanked” into the financial mainstream.
FDIC Chairman Sheila Bair said access to a bank account gives households “an important first step toward achieving financial security.” Vulnerable families need the ability to save for emergencies and borrow on affordable terms, she said in a statement.”
The one thing that really needs to be pointed out about this report is the fact that it talks about many people who do not have banking services, yet they are using services such as payday loans. In reality, a consumer generally can not get a payday loan if they do not have a checking account. There might be some lenders that allows no bank account, however most do require it. So, I am not sure payday loans should be in this article when speaking about the “unbanked” consumers??????

The Thanksgiving rush is now over, and retailers seem to be pretty pleased with the Black Friday results. However, now Cyber Monday is here and the kickoff to online shopping has begun. Internetnews.com is reporting sites such as Amazon.com and Walmart.com to be the potential big winners. Time will tell who is going to be the big winner this holiday season. Web sales only represent a small portion of the holiday sales, however year after year more and more people are turning to the internet for their shopping.
Leadpile is hoping to capitalize on some of this increased web traffic with some additional lead generation. Payday loansare in high demand, and we are hoping some will see these short term loans as an additional way to potentially purchase their much needed Christmas gifts.

In recent news in AZ, payday lenders are working with an former AZ attorney general – Grant Woods to try and keep payday loans from being eliminated fully in the state. In a recent vote the short terms loans had been voted to be eliminated, however some are trying to prevent this from happening. A local AZ paper is quoting that some payday lenders have hired a local company whose owners are advisors to the AZ governor, so this looks like they are really trying to win this battle this time. We all wish the people in AZ (Leadpile’s home) luck with winning this battle.

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.

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.

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!!!!

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!!!!!!!

I came across this article about nursing homes providing payday loans to it’s employees and it intrigues me because this just goes to show you that there really are a lot of people that need extra short term cash. Nursing homes offering their employees short term loans might not be the answer to helping those that need help, but the point is that there are people everywhere (working and not) that are looking for some short term help. Regulating nationwide payday lenders to the point that causes places like nursing homes to provide loans really the answer? OR coming up with a solution to help those that need short term cash the answer? There has to be a middle ground where getting short term loans should be easier than having to necessarily go to your employer …right? Nursing homes are for taking care of our elderly AND payday lenders are for taking care of those in need of getting some quick cash. The payday lenders should not be taking care of the elderly and the nursing homes I do not believe should be lending money.

When someone needs some quick cash, most think of getting a payday loan because it is quick and no credit check is required. However, in recent years, credit unions have tried to come up with an alternative to a payday loan, but some seem to be similar in many aspects. Does this mean that our nation’s credit unions will be getting put under a microscope like most payday lenders? The unfortunate thing is that many of these consumers are needing “emergency” money, so places like credit unions are trying to jump in and help out their customers with creating these short term loans. There is certainly a need, or credit unions would not look at creating their own version of a payday loan, but really what is the difference? Is there some way all lenders can come together to create one “short term emergency loan” that can help our nations consumers get out of trouble? Leadpile hopes so, because we really want to continue to be able to generate leads of those that are looking to be connected with someone that can help them. Sounds like the credit unions and the payday lenders have a common goal >> help consumers! Right?