Poor People, A Greedy Ex-con, and Pocahontas
QUESTION: Name 3 things you need to make bank on payday loans.
The combination of a shaky job market and large payouts on payday loan offers is making some affiliates rich.
I saw this story on the CBS Evening News last night. I don’t think the shadiness will surprise any affiliates, but I thought it was interesting nevertheless.
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This article was published back in Feb of this year and goes into a bit more detail.
Tribes doing business with online lenders made about $420 million in payday loans last year, or about 12,500 loans a month, he estimates.
Predictions
Will these kind of business practices raise the ire of the FTC and trigger another round of smackdowns aimed at internet marketers?
Are we going to see a bunch of indian tribes with tables at the next ASW looking for JV partners?
Is someone going to start Shady Buffalo Hosting Company so we can all host our flogs on sovereign tribal land?
Your thoughts?
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Tags: payday loans
Tom Fang
6 responses to "Poor People, A Greedy Ex-con, and Pocahontas"
HaHa
I saw that & had to turn it up. Funny how the guy running it wasn’t even a tribal member, but just an “employee”.
Now .. what network has those offers?
Yeah, that dude is shady. I love how he’s an ex-con too! As for payday loan offers in general., tons of networks run them. Check out offervault or offerbuzz and you’ll find a lot.
Thanks for reading!
I wonder if since they lend as a sovereign entity, and are not falling under Federal guidelines, then does that mean if I don’t pay the loan back, they can do nothing since there is no real law to enforce?
Back in the old days they would shoot you full of arrows for talking like that!
Thanks for reading!
This tribe thing is utter rubbish. Considering the tribes weren’t exterminated like in other parts of America, you’d think they’d do a better job of behaving like… Indigenous tribes.
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I agree with you. Stuff like this, where they abuse the whole sovereign nation thing, is going to eventually backfire on them and hurt all Native Americans. The federal government will only put up with stuff like this for so long before it’s hammer time.