Some interesting things have happened this week in the world of small-dollar credit.
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The future isn't bright in Spartanburg.
Wall Street seems to think that the future is not very bright at Check$mart.
One week after announcing that it would sell $250 million in notes, World Acceptance changed its mind and now says that such an idea was poorly timed.
World Acceptance is in danger of failing to meet the terms of a covenant written into the most recent amendment of its commercial credit agreement.
A recent story in the Washington Post may have given the wrong impression about Wells Fargo's recent epiphany on their relationship with payday lenders.
In an April 11th story entitled "Banks to Payday Lenders: Quit the business or we'll close your account," the Post
An article in American Banker says that Capital One and Fifth Third have decided to stop making payments for check cashers and payday lenders.
Now that the Department of Justice is aggressively pursuing instances where banks facilitate illegal
Wells Fargo says that David Hoyt, the executive who has led Wells Fargo's wholesale banking division for the past 18 years, is retiring.
Hoyt has fans within banking. A leading hedge fund manager says that Hoyt has been the best commercial banker in the