THAT IMPACTS YOUR BUSINESS
Updated April 12, 2007 -- Scroll
down to read all stories
SOME GOOD NEWS
April 12, 2007.
this article from the Wall Street Journal regarding payday
lending. It's good. The news has most definitely
improved on many fronts since the launch of the CFSA campaign.
STATE BANKING SUPERINTENDENT
APPEARS ON ALABAMA PUBLIC TELEVISION
April 9, 2007.
One of our members alerted us to the appearance
by the State Banking Superintendent on Alabama Public Television a
couple of weeks ago. Click
here to see his interview in which he discusses, among other
things, payday lending and title lending.
SESSION NEARING HALF-WAY POINT
April 9, 2007.
The legislature is nearing the
half-way point. They will convene this week, but will be off
next week for break. When they return, the session will be at
the half-way point. So far, there is no additional news to
report on the bills that affect us as described below. For the
most part the Senate seems to be bogged down on internal political
UPDATE ON RECENT BILLS TO SHUT
DOWN THE INDUSTRY
April 2, 2007.
There is no news of any significance
to report on the proposed legislation. A committee has been
formed that includes the Senators who introduced the legislation,
the payday and title industry representatives (which includes us)
and consumer group representatives. The committee has held
meetings which are essentially to provide the Senators with feedback
on the impact of their legislation. The focus of the
committee, at the moment, seems to be on the payday legislation.
The committee plans to address the title bill after the payday
issues are resolved. At the moment we do not have any
timeframes on when that will occur.
UPDATE ON RECENT BILLS TO SHUT
DOWN THE INDUSTRY
March 24, 2007.
We are working on the three Senate
bills through our lobbyists that would shut down our industry. There is no news to
report (good or bad) at the moment. We expect to see more
activity in the press over the next week or so and we expect that
legislation may be introduced in the House that would be similar to
that in the Senate. Many of you have contacted us wanting to
know if there is anything you can do. The only thing you can
do at the moment is to make sure you are a member of our
association. We will soon need all the support we can muster.
Your support will be critical when the time comes.
BILLS INTRODUCED IN ALABAMA
SENATE WILL SHUT DOWN OUR INDUSTRY!!
March 10, 2007.
The Senate introduced three bills that
for all practical purposes will shut down the industry. To
those who have attended our meetings this should come as no
surprise. Your association is working diligently on this
situation. We do not have much to report at the moment.
Many of you have asked if we need to begin contacting our local
representatives. The short answer, is not yet. At the
proper time, we will most definitely let you know we are ready to
begin an intense, grass-roots effort to present our side of the
story. Rest assured, we are monitoring and tracking this
situation hourly throughout every day. We will soon get back
with more information. Also, rest assured this is the most
significant threat against our industry since we formed TPCA six
See the press articles
NEW WEB SITE IN THE MAKING.
March 10, 2007.
We are working on a new web site and it should be
completed in the next month or so. There will be many new
features and more information available to our members. For
the most part, the new site will be for TPCA members only
through a registration process. If you are not a member of
TPCA, you may want to consider joining now.
A NEW LOW COST, LIMITED TIME
INTRODUCTORY TPCA MEMBERSHIP IS NOW AVAILABLE.
March 10, 2007.
The Board of Directors has approved a new,
limited time introductory rate for TPCA membership which is
substantially lower than our current dues.
Go here for our current
dues. This new dues arrangement has not been added to any
other location on this site yet. The annual cost under the new
plan is $350 for your first store and $100 for each additional store
up to a maximum of 10 stores. We will bill this on a quarterly
basis. If you are not member and have never been a member, now
is the time to join. Especially now, with what we are facing!
Hurry, though this offer will expire soon. Drop us an
call at 205-733-9926 for more information or to join under this new
low rate option.
TPCA WILL HELP ORGANIZE A NEW
ASSOCIATION TO PROMOTE TRUTH ABOUT THE TITLE AND PAYDAY LENDING
INDUSTRY. February 11, 2007.
At our meeting on January 31st we
discussed an exciting new concept to promote "good news" about our
industry (title pawn and payday advance). Due the constant
attacks by the press in which the press virtually never, ever
bothers to tell the other side of the story, we all agreed it was
time someone spoke out for our industry. We plan to do this!
You will hear much more about this later.
SUPREME COURT CASE HAS NEW
INTERVENER IN TITLE PAWN LAW SUITE.
January 9, 2007.
The Southern Poverty Law Center has
filed a brief in the Supreme Court case against us.
Here is a
link to their web site. They are an "activist" organization.
It is probably fair to say their agenda is opposed to ours!
SENATE COMPLETES ORGANIZATION
SESSION. January 9, 2007.
The Alabama Senate completed their
organization session today. It did not go as everyone expected
Here is the story. Now that this task is complete, the
TPCA Board of Directors will meet to map out our strategy for t
session. This is shaping up to be a very trying period for us.
The session begins in early March but bills can and most likely will
be filed any time between now and the end of the session.
SENATE ORGANIZATION SESSION
BEGINS THIS WEEK. January 7, 2007.
The Alabama Senate meets this week to
decide the leadership roles for the next session. The outcome
of this will be very important to our members.
Go here for the story.
BIRMINGHAM NEWS & TV
STATIONS BASH PAYDAY LENDERS AS PREDATORY December 2, 2006.
A spate of articles appeared this week bashing payday lenders as
predators. Clearly, this is timed to influence
legislation -- both local and national! Read much more about
REGIONS BANK ADOPTS AMSOUTH
November 8, 2006.
We have been advised by the Modern Financial
folks (payday association) of new bank closings. We hate to
say we told you so -- BUT.
See our news article from
several months ago regarding the AmSouth - Regions merger.
Actually, we thought the issue was put to bed at the end of last
year, but apparently that is not the case. Go to the bank
closing link on the left and read all about this problem. This
is not a local issue. There have been hearings in Washington
to resolve this problem. We thought those efforts had paid off
and the problem was resolved. That does not now appear to be
the case. This latest round of problems is most likely linked
to the merger of AmSouth and Regions.
If you are contacted by Regions about your
banking account you will have no other choice but to find another
bank. We do not know of anyone who has convinced AmSouth (now
Regions) to change their mind. We suggest you try local
community banks. We don't know if it will work, but it is
about your only option. None of the major banks seem willing
to accept new business from our industry. We will keep you
appraised of the situation.
WE MADE OUR
CONTRIBUTION GOAL November 8,
Go here to see the latest.
WE ARE WAY SHORT OF OUR
CONTRIBUTION GOAL October
to see where we stand and to see those who are standing
IS THIS A NEW COMPETITOR?
(THE STATE &
CREDIT UNIONS) October 20, 2006.
article regarding a new approach to payday loans. Looks
like the State and Credit Unions are moving into the business.
JUDGE RULES PAWNSHOP LAW
As discussed at our meeting in September (and
reported here) this is an issue
the association will deal with and will follow closely. We
will certainly keep our members informed on this important issue.
The Defendant in the case has now filed a motion for appeal, which
was fully expected. The association has agreed to file a brief
on behalf of our members and we expect to do so at the appropriate
time. Many have asked about the timing. You can go
here for a
general timeline of the events.
BOARD MEETS -
APPOINTS NEW DIRECTOR October 20, 2006.
The Board of Directors met yesterday and
appointed Mr. Bob Reich with Community Loans of America to the Board
of Directors. We are excited about having Bob join us.
He has a broad range of experience in the industry which will be a
very important asset as we face multiple challenges in the months
ahead. Community Loans operates in Alabama as Alabama Title
Loans and as US Title Loans. They are one of the largest title
loan operators in the state and in the country.
Please join us in welcoming Bob to the Board of Directors.
The Board also agreed to focus on positioning the
association to meet the challenges ahead by bringing on new members
and expanding the leadership of the association. You will hear
more about this is the weeks ahead.
GREAT AARP STORY
October 12 2006.
This article appeared in a South Carolina paper.
Maybe we are beginning to see more clearly the AARP motives in
attacking us so aggressively. Just what's in it for them?
Read the article and see.
October 11 2006.
At our meeting a few weeks ago many of you
pledged to contribute to the PAC. If you have not already done
so, please get your checks in ASAP. We will post the
list of contributions here in a few days. As you can see from
the news below, we will surely need to help our friends in hopes
they will stay in Montgomery!
Click here for
instructions on making your contributions.
JUDGES RULING APPEALED.
October 11 2006.
The defendant in the recent case that declared
the pawn statute invalid has this week filed their intention to appeal
that decision as required by the appeal process. TPCA also
plans to file an appeal on behalf of our members.
US CONGRESS PASSES MILITARY
October 11 2006.
The US Congress has passed and sent legislation
to the President that shuts down lending to military personnel and
their dependants. Go here or
our association's attorney assesment and
for Modern Financial's (payday association) attorney's assessment.
GETS SLAMMED FOR PAYDAY LOANS.
October 11 2006.
As we predicted the press and political
candidates are turning up the rhetoric and we are right in the
crosshairs. This will clearly turn out to be a very
bad situation in the next legislative session.
Click here or below and see the latest on
What They Have To Say About Us
MORE ON SENATOR BARRON'S
PLANS FOR THE INDUSTRY.
September 14, 2006.
For those who do not know of Senator Barron, he
is President Pro Tem of the Senate. That is the top office in
the Senate and one of the most powerful positions in our government.
Senator Barron was key in getting the
payday legislation passed a few years ago. He also had an
ownership position in several payday loan stores. That is
HAD. The news article indicated he has
disposed of his interest and is no longer in the payday loan
business. In sum, here is what he wants to do in new
legislation he plans to introduce in March:
Stop payday roll-overs
Set up a single database controlled by State
Banking to monitor payday loans
Establish a cooling off period for renewal of
Only one payday loan in a 60 day period per
Place title loans under the Small Loan Act at
24% to 36% APR
All About It Here.
SENATOR LOWELL BARRON PLANS
TITLE & PAYDAY LEGISLATION.
September 14, 2006.
We have just learned from a front page article appearing in the
Huntsville Times that Senator Barron plans to introduce legislation
that will dramatically effect the title and payday industry!
Check back later and we will have more information.
Here is the article.
JUDGE RULES PAWNSHOP LAW
9, 2006. On August 25th St. Clair County Circuit
Judge Charles Robinson Sr. struck down a provision of the Alabama
Pawn Shop Act in a summary court ruling, saying it violates the
Equal Protection Clause of the 14th Amendment of the Constitution.
to download the decision (this is a .pdf file and it may take a
moment to load). We will hold a meeting to discuss this
unprecedented ruling and how it will impact our industry.
Click here for meeting information.
REGIONS ACQUIRES AMSOUTH
BANK. May 25, 2006.
AmSouth bank has been acquired by
Regions Bank's. Some reports show it as a merger. This is not good
if you have a bank account at Regions. As we reported at length last
year, AmSouth was the main cause of bank discontinuance in our
region. We do not know of any of our members who had an AmSouth
bank account who did not have their account closed. Stated another
way, everyone who had an account at AmSouth had their account closed
Many of those who could not find bank accounts moved to Regions. Oh
If you have a problem, click
here and read our reports from last year.
Quite frankly, if you encounter problems with Regions we do not of
know much you can do except to locate another bank.
JUDGE MAY RULE PAWNSHOP ACT
2006. A few days ago we sent
a notice regarding a circuit judge in St. Clair county who we expect
to rule that the Alabama Pawnshop Act is invalid. We now have additional information. The original lawsuit was brought
against a title operator in Pell City, AL. We just discovered
the operator is a
member of TPCA. The operator has been in this business for a
many years and they operate by the books. The original lawsuit
goes back almost four years. We understand the judge does not
think much of our industry and has not apparently found a violation
of any existing statute. So, this move is apparently his
solution. We are not making this up, promise.
If the judge makes this ruling, it will most
certainly be appealed to the Alabama Supreme Court. This means
between twelve and eighteen months before anything would be decided.
WELCOME NEW MEMBERS. May
2006. Please join us in
welcoming two new members -- Community Loans of America, one of the
largest title lenders in the country (operating as Alabama Title
Loans in Alabama) and Speedy Cash with several stores in south Alabama.
Together these companies represent 40 new stores who are now members
of TPCA. We don't know how many title stores there are in the
state, but we believe there are between 500 and 600 (there are about
900 total pawnshop licensees, but many are traditional pawnshops
only). With these new members, we believe well over 50% of the
operators in, terms of stores, are members of TPCA. Why is
that important, you ask? There are many good reasons, but two
that come to mind immediately are: 1) We clearly have more clout in
Montgomery (a pretty important reason) and 2) If we can continue to
grow, at some point we will be able to address our dues structure,
which will help all of us.
NEWS FROM GEORGIA NEIGHBOR. May
2006. On March 25 (see the
article below) we wrote about the situation
in Georgia. Thanks to the hard work of many industry folks nothing happened
-- this year. Our president, Jimmy Wiggins, is
close to the situation in Georgia and reports that this was a major battle.
He fully expects the issue to be on the agenda at the next
SB501 WILL BRING BIG CHANGES
FOR TITLE OPERATORS. March 25,
2006. Now comes new
legislation in the Senate to monitor our industry with a state-wide
database and require us to charge additional fees for every transaction. We
believe this is bad legislation and we are working against it.
Click on Legislative for more
NEWS FROM NEIGHBORS. March 25, 2006.
We have our own battles here (as
noted above). Our industry is under constant attack. If gone
unchecked, the outcome will not be good. Consider just the states that border
Alabama: Florida; title loans were outlawed years
ago -- NO MORE TITLE LOANS IN FLORIDA, Mississippi; among other changes
they implemented a few years ago customers are required to pay a portion of their principal every month,
Tennessee; just this year implemented changes similar to MS.
And now comes Georgia. Read what the
Atlanta Journal has to say about it by clicking
The outcome under pending legislation in Georgia could be
like Florida or like Tennessee (let's hope it is TN). Don't think we are
immune in Alabama. This is the reason for your association and
the primary reason we exist.
Our number one job is to look after our interest and to do all we
can do to be sure what has happened to our neighbors does not happen
to us here. We need everyone's help in order to succeed. If
you are not a member, please stand with us by
LICENSES MAY NOT BE RENEWED.
December 28, 2005.
There is a glitch in the new internet license renewal
system for pawnbroker and deferred deposit licenses. The error occurs
only if you have multiple licenses. If you used the “back” button on
your browser after you completed your first license application to then
enter another license application the system only processed the first
license. All applications after the first application were not
processed by the system. Click
here to read the entire article.
MEETING WITH NEW STATE BANKING HEAD.
December 12, 2005.
Last week JImmy, Max & Michael Sullivan (our
lobbyiest) met with the new superintendant of the State Banking
Department, Mr. John Harrison. Click here for Jimmy's report.
ASSOCIATION ATTORNEY REVIEWS SUPREME
December 2, 2005.
Our association attorney, Jeff Ingram of Galese and
Ingram, has completed his review of the recent Supreme Court ruling.
We have faxed and emailed his assessment to all members. If you
have not received yours, please drop us an email
(click here) and we will get it out to you right away. His
review is quite interesting and you will not want to miss it.
ALABAMA SUPREME COURT RULES AGAINST
PAYDAY LOAN INDUSTRY. November 22, 2005.
Supreme Court ruled on a lawsuit against the payday loan industry on
Friday. This lawsuit has been around for years. It appears
to affect only operators who made loans prior to the deferred deposit
legislation that passed in 2003. We are not yet sure what the
impact of this will be. Our association attorney is researching
the issue and we will get his assessment to our members in the next few
days. Click on the link below to read the story as it appeared in
the Birmingham News.
rules against payday loan industry.
GO AFTER PAYDAY LOANS IN NEXT SESSION.
November 17, 2005. It's just not
safe anywhere -- at least without a good association behind you!
We have talked at length how several of our neighboring states have hit
a brick wall with regard to title and payday loans. Florida did
away with title loans and then they hit payday loans with big changes (none
of them good). Georgia outlawed payday loans and now are trying
the same with title loans. Tennessee has just made big changes in
title loans (guess how many changes help the operators?). And now comes
Virginia wanting to eliminate payday loans
(like North Carolina has). Read the story by clicking the link
There may be a
message here. If you do not have a strong association in this industry working for you, you may become TOAST!
Make sure you support your association if you want to have a chance.
wants to pull the plug.
TITLEMAX SAYS, "PLEASE DON'T
PUT US OUT OF BUSINESS."
August 1, 2005. See this
article published today (click link below). This is not looking good!
-- More Title Pawn Hearings
GEORGIA TITLE LOAN PROBLEMS WORSEN July
27, 2005. Georgia has turned out to be a bad state for
payday loans, mortgage loans and now maybe title loans! As a
result of an assault by the Atlanta paper (Atlanta
Journal Constitution) the Georgia legislature
introduced adverse title pawn legislation in the last session.
It did not pass. BUT, they agreed to hold hearings over the summer and
address title pawn again in the next legislative session. Now, this may
not seem like an Alabama problem, but it could very easily spill over.
Remember the horrible bills introduced by the Alabama legislature when title pawn
was outlawed by our other neighbor (Florida) a few years ago? That
was certainly no coincidence.
Click on the link below to read what Georgia (and maybe us) are up against.
-- Title Pawn
Hypocrisy & Bias
PAYDAY SCAM ALERT July 27, 2005.
The Modern Financial group
(payday loan association for Alabama) has advised us there is a payday scam
making the rounds in the state. So far as we know it has only
affected payday loans. But, the group could easily expand into title loans. Here is the information provided to us by the Modern
GSA employee has been to many check cashing stores in
Alabama and used more than one social security number. We have a
special investigator for GSA working on this. The names used
by the perpetrators are Keshia Horton and Carla Neal. The
following are stores that have been affected that we ARE AWARE OF; AAA
Between Pay Day, Check N GO, Cash Back, The Money Store, Approved
Cash Advance, 500Fast Cash, United Cash Loans, AmeriLoan, Cash
Advance Plus Paycheck Today, Oneclickcash, Check Into Cash, Easy
Money, Ez Pawn, Cash Mart, Fast Cash, Talking Cash, Advance America,
Cash Advance Plus. The GSA investigator needs our help. They want to
get this message to our members to help identify how many other
locations are involved. This appears to be a ring and they have
stolen thousands of dollars. In order to get Federal help the
amount must be 10,000.00. Otherwise, this puts it back to
local jurisdictions. Please let us know if you have any
information about this group.
you have any information, please send an
(205-444-9606) with the details. Or you can give Max a call at
205-733-9926. We will get it to the Modern folks right away.
We have been able to help in robberies with our alerts, maybe we can
help here as well.