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Re:Consumer Protection Bureau Aims to Roll Back Rules for Pa... by breatheoften on Wednesday February 06, 2019 @06:57PM (#19101504)
I'd be curious to know -- if you issued loans via prepaid credit cards that explicitly could not be used for gambling/drug dealer payments - what happens to the default rate of your (remaining) customers ... - can you filter out enough high-risk scammers to serve a legitimate market segment (with more fairness) with this kind of tactic?
Re:Consumer Protection Bureau Aims to Roll Back Rules for Pa... by seandhi on Wednesday February 06, 2019 @07:00PM (#19101538)
I’m not sure what you mean. I recently interviewed with Earnin and SoLo Funds, and they have their own risk and reputation algorithms based on many factors. All loans are no interest - borrowers pay a gratuity of their choosing. They are running at a much lower margin than traditional loans, and especially cash advance/payday loans, from what I understand.