Payday Loan Laws

Payday loan laws have been much debated in recent months. Candidate Barack Obama made changes to the consumer finance laws a main campaign issue, and the new administration and Democratically led Congress have had these laws in their sites as well. But while many in the payday lending business have panicked, wise lenders have realized that times of great change and turmoil are also times of great opportunity. Many of these lenders are looking for ways to move into new more traditional forms of consumer finance and see the uncertainty in the current markets as their chance to do so. But to take advantage of opportunity, an organization must be run efficiently so that it is ready to move and make changes quickly.

Compass Technologies is a software development company that understands the opportunities created by changes to the payday loan laws. We have developed Kwik-Loan, a complete suite of software tools created for consumer finance organizations. These tools vary in functionality and are intended to help consumer finance companies manage every aspect of their business. From creating a new website to taking online applications to making automated credit decisions, Kwik-Loan was built specifically for consumer finance companies. Click here to learn more about how you can benefit from changes to the payday loan laws.

Please contact us for more information.

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Credit Central has been using EnCompass for more than a year and a half now. To begin with, the Compass staff was very helpful in converting our old data over to their real-time platform. The b...

David Terrell, Credit Central

Previously, we were running on a system that required a server at each location. Our branches had to run daily reports and forward to the home office where we consolidated them for management review....

Brad McClure, Central Financial Services

By moving to the Compass Kwik-App program, Kitch as been able gain an edge on competitors by electronically providing all necessary loan documents to our indirect dealers. Dealers love the fact that ...

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