Debtconsolidationcare: Internet's first get-out-of-debt community
473,117 members

Internet's first get-out-of-debt community 472,096 members


Debt Consolidation Forums Payday Loan help

FDIC to First Bank of Delaware, CEASE & DESIST



nohiogal


Posts: 2562
Credits: 11799.7
[Donate]
Sub: FDIC to First Bank of Delaware, CEASE & DESIST
Wed, 19/09/2012 17:05

Oh this looks like we are getting some where. Maybe this will be the end of Cash Call and Think Cash.

If you click on the "Order" it takes you to a 41 page PDF on the stuff against them.

These filings were for a credit card they were issuing but it is a start that the FDIC is on to them.


To infinity, and beyond


Article Rating: 
waffles
waffles


Posts: 1678
Credits: 30959.147782844

Sub: #1 Are you in california? if so, that class action suit hasn't evenWed, 09/19/2012 - 17:05



Are you in california? if so, that class action suit hasn't even been tried yet.

Is my payday lender illegal in my state?

How to deal with illegal lenders, courtesy of OhioGal

How to write a proper debt validation request, courtesy of SOAPLADY

How to deal with a Collection agency contacting you for PDLs


Unregistered

Sub: #2 So since I had a Cash Call loan about 5-6 years ago, how do I goWed, 09/19/2012 - 10:10



So since I had a Cash Call loan about 5-6 years ago, how do I go about finding out if I'm owed anything?


Unregistered

Sub: #3 An Insider update for CuriousWed, 05/30/2012 - 13:07



Curious,

I just wanted to touch base with you and give you yet another update as a "Former Insider".

By now you should know that with all the pressure mounting by the regulators and the Senior Management team gone, earlier this month (May 2012), FBD decided to sell it's assets and close it's doors come year end.

http://www.delawareonline.com/ar ticle/20120504/BUSINESS05/205040301/Troubled-Del-bank-fades-after-buyout

Insider tidbit .........Where is Senior Management? After being booted out by the Board and some by Mr Primus himself, some where unemployed (and still), while others found positions. Let's just say the Board and the Federal Regulators came in and cleaned house. The smart ones (cough cough like myself) got out before all hell broke lose and those that were left started finger pointing at one another.

Where was the Advisory? There was none, just along laundry list of To-Do's that FBD knew they could not handle in such short time with the dwindled down resources (i think they were down to 30 staff members at one point) and limited cash.

Just wanted to touch base in case you come back and ever inquire as to what happened with the "Insider". I'm doing great, unlike some of former coworkers I told to get out, who are now having to tesify and/or suing the bank themselves.:shock:


Unregistered

Sub: #4 Since you are an "insider" what were the regulations that they wWed, 05/11/2011 - 13:55



Since you are an "insider" what were the regulations that they were breaking? If they were shut down, where is the advisory from the FDIC?

Curious:

As an "Insider", it was the same regulations that they were breaking with their installment loan and credit card products that never went published by the FDIC as the Bank "discontinued" the products based upon the decision that forthcoming from the FDIC. If you are aware of the process, when the regulators were in, reports were issued, and the Bank had a time period to correct all noted issues, however the Bank did not, and instead of bearing the humiliation (if you knew Mr. Primus the CEO and Mr. Madonna, the Board Chairman you would know they would rather take the easy way out) of accepting the FDIC's recommendation of shutting the products down, the Board and Senior Management's response to the report was that the Bank would terminate the products installment loans effectve 12/31 and more recently their ACH/RCC products.

But I guess you know that every "product" ......"shut down" doesn't necessarily mean an advisory is posted when the Bank takes action to discontinue the line of busness before the FDIC decision is rendered upon coming back and verifying responses and the final report is issued.

If you want to do further homework on me being an insider, why not call not Bank and ask them where their Chief Operating Officer and ACH/RCC Product Manager are, and why they are where they are right now.

Kenneth: The First Bank of Delaware is chartered out of Delaware, where they have 2 branches in DE, but the corporate offices are located in center city , PA

(for Curious .....that's ........50 s. 16th street, 24th floor along with Metro Bank and Republic First Bank - their original sister Bank) While your there, stop by the Residences and gaze at teh stars that live there or grab a bite to eat at Mr. Primus' favorite fast food .....Chic-Fil-A in the mall.

But who am I, am no insider.


Unregistered

Sub: #5 whateverTue, 05/03/2011 - 16:59



In my opinion this company Think Cash Check and Go or any other check advance company is a modern day version of Loan Sharks, plus they release your bank account information to 3rd party companies, which rob your account and leave you to pay for overdrafts and unwanted or unrequested services...I wont give them another dime...


Unregistered

Sub: #6 i think the bottom line here is that there are alot of Legal proThu, 04/28/2011 - 11:11



i think the bottom line here is that there are alot of Legal products out there that charge alot of money. While some people may think it is unfair and unjust - that is the way it is - why can gas companies raise their rates to what they are today - do you think it cost more money - no - they can because it is legal to do. If you don't want the product - don't use it - yes, come back and say i work for them and you are wrong. I'm just logical and have been able to get out of it by saving and using it wisely


Unregistered

Sub: #7 Since you are an "insider" what were the regulations that they wThu, 04/28/2011 - 11:08



Since you are an "insider" what were the regulations that they were breaking? If they were shut down, where is the advisory from the FDIC?


Kenneth Barhight
Kenneth Barhight
Posts: 40
Credits: 1507.65

Sub: #8 So, I am confused as what is actually going on here. Is ThiThu, 04/28/2011 - 09:13



So,

I am confused as what is actually going on here.

Is ThinkCash / FBD legal in PA. They are showing on my Transunion credit report as being in collections for way more than the original loan.


Unregistered

Sub: #9 Please don't take this the wrong way.........whomever. The FBDTue, 04/26/2011 - 09:15



Please don't take this the wrong way.........whomever.

The FBD and Thinkcash relationship came ot an end because of regulatory scrutiny. Basically FBD and Thinkcash were in violation of a few regulatory rules and laws and the Federal Regulators shut it (the product) down. The term "payday" loan cannot be used when dealing with Regulators, and FBD could not persuade them that they were offering anything different.

To avoid the costly fines, it was in Thinkcash's best interest to terminate the relationship, as if you do some research, you can see what happened to Compucredit's products with FBD and who bore the financial responsibility of all fines. While you may not see the contractual wording, let's just say that FBD bares no responsibility and these "partners" enter into these agreements and get stuck in the end holding the goods.

Why did the regulators shut it down? Well, as an insider, all I will say is that products are offered well before they have really been reviewed, and by the time the regultors come in and review, it's too late. All of these issues and then you add in a Bank FBD) that went through similar actions the prior year with cancelling all their credit cards issued by CompuCredit, then you understand just how many eyes were really on the Bank.

The Bank offers some new products via debit card, but be AWARE of what you are signing up for and remember NOTHING is for free.

If I can address one post: The Bank knows that people will apply and never make the first payment, which is why they establish a reserve for loan loss, but in the end other applicants pay for these losses in the form of fees, higher rates, etc.

Advice: If you ever do find another payday loan, before you sign, read everything, but more importanty NEGOTIATE. Banks recognize returning customers, loyal customers that pay on time and in full, and have a positive track record. You'd be surprised at how many people just accept the terms and sign. Think of it like a car, you negotiate that car payment, so why not negotiate that payday loan payment?

Those with Balances, if you are in a position financially to pay -off your balance, call in and see if they will negotiate a settlement. Why make 5 payments of $200, if they will accept $600 - $700 in full, close your account out, and report to agencies positively?


Unregistered

Sub: #10 i know i went threw think cash which their lender was bank of DeWed, 04/06/2011 - 14:22



i know i went threw think cash which their lender was bank of Delaware..i've been a customer for 3 yrs now..take 4 loans out and always payed them back their interest is high, but that comes with the territory...now i recently went back to the site and their not doing loans with them anymore :( their waiting on a another lender.
just and F.Y.I. i've been a collector 10 years now, and just recently in my office- well law firm now we are handling First Bank of Delaware..and many ppl i call are so rude dont care that they took out these loan saying their high in intrest, some just took the loan and never made the first payment! anyways thats sucks cause the ppl who really paid these loan s back and need it cant now!


Pages

Add new comment

Full HTML

  • Web page addresses and e-mail addresses turn into links automatically.

Filtered HTML

  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <blockquote> <code> <ul> <ol> <li> <dl> <dt> <dd><img>
  • Lines and paragraphs break automatically.

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
CAPTCHA
This question (Case Insensitive) is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Enter the characters shown in the image.
Share post


Page loaded in 0.823 seconds.