Payday lenders - Study guides, Class notes & Summaries

Which cycle describes members who are just surviving and living paycheck to paycheck? - CORRECT ANSWER Earn/Spend/Earn/Spend Financial counselors who don't use what they know about hemispheric thinking may fall into the trap of: - CORRECT ANSWER Presenting information to a member in a manner that might not be the best way to communicate Using a hard approach, rather than a soft approach, with members: - CORRECT ANSWER Communicates in an orderly, specific, and straight-f...

Chapter 03 Financial Services: Finance Companies     
True / False Questions
  1. Finance companies differ from banks in that they do not accept deposits. 
TRUE   2. Finance companies have been among the slowest growing FI groups in recent years. 
FALSE   3. General Electric Capital Corporation (GECC) provides services to more than 15 million businesses and consumer is Asia alone. 
TRUE   4. In 2008, GE Capital Corporation accounted for approximately 50 percent...

FDCPA - Fair Debt Collection Practices Act for Payday Lenders – Q&A

FDCPA - Fair Debt Collection Practices Act for Payday Lenders

Which cycle describes members who are just surviving and living paycheck to paycheck? - Earn/Spend/Earn/Spend Financial counselors who don't use what they know about hemispheric thinking may fall into the trap of: - Presenting information to a member in a manner that might not be the best way to communicate Using a hard approach, rather than a soft approach, with members: - Communicates in an orderly, specific, and straight-forward way The Johari Window describes four zones. W...

Wise Exam practice Sources of income Various revenue streams like wages, rentals, and investments Exemption Reduces taxable income; also known as an allowance Liquidity Ease of selling assets; liquid products are easily tradable Gift cards Closed loop or open loop systems with potential inactivity fees Discretionary income Money not allocated for essential needs like food or shelter Money orders Payment orders for specified amounts, similar to checks Value of...

Financial Services Commission The governor and cabinet who select two officials to regulate banking, securities, and insurance Division of Finance Department responsible for licensing, examining and regulating non-depository financial services companies in Florida Bureau of Finance Regulation Conducts examinations of the books and records of mortgage brokers, mortgage brokerage businesses and mortgage lenders to ensure compliance Bureau of Money Transmitter Regulation Co...

Wise Exam practice Sources of income Various revenue streams like wages, rentals, and investments Exemption Reduces taxable income; also known as an allowance Liquidity Ease of selling assets; liquid products are easily tradable Gift cards Closed loop or open loop systems with potential inactivity fees Discretionary income Money not allocated for essential needs like food or shelter Money orders Payment orders for specified amounts, similar to checks Value of...

WISE Financial Literacy Test terms Sources of income - answerwages, rentals, interest, capital, profits, investments, entrepreneurship exemption - answeralso called allowance: used to reduce amount of taxed income liquidity - answerthe degree of ease in which assets can be sold gift cards - answerclosed loop system and open loop system; can be purchased in fixed amounts and redeemed for purchases from particular businesses discretionary income - answeralso called budget surplus; not alloc...

Sources of personal loans include - Answer-commercial banks, savings institutions, finance companies, and credit unions. Loan agreements with family and friends should - Answer-be in writing and signed by all parties. The personal loan process involves - Answer-submitting the application, negotiating the loan contract, and negotiating the interest rate. In the loan application process, the information the borrowers must supply to the lenders is - Answer-a personal balance sheet and a pe...