The short term loan space has unique challenges. There is often little to no credit data on the borrowers which makes underwriting difficult. Defaults are high and therefore interest rates are high as well. The space has had a history of bad actors so the CFPB recently released new rules in order to ensure more responsible lending practices. Some companies, though, had already embraced responsible lending. My guest on the latest episode of the Lend Academy Podcast is Ken Rees, […]