Payday Lending Changes

As part of his “Plan to Strengthen the Economy”, President-Elect Barack Obama has promised to: “Cap Interest Rates on Payday Loans and Improve Disclosures”.

With his landslide election on November 4, 2008, the current economic climate and a sympathetic Congress, we can expect that this type of payday lending change.

Proposed Payday Lending Changes

KwikLoan Can Help

In order to stay in the lending business and maintain a reasonable profit margin, many lenders will begin to make longer term, installment loans. Compass Technologies has an integrated suite of products, Kwik-Loan, that is designed to address payday lending law changes.

Payday Lending Changes

The Kwik-Loan suite of products will easily handle your consumer loan software needs, helping you transition your payday loan business to an installment loan provider.

Kwik-Loan is a great solution that gives you an online presence to allow automated processing of applications, online account inquiry, stored value cards, and a web-based, back-end processing solution that will handle any type of consumer loan transaction.

Kwik-Loan will help you manage upcoming Payday Lending Changes.