Cash Advance Centers CEO Discusses Q2 moncler padded jacket 2011 Results Good day, miami heat jerseys everyone, and welcome to the Advance America, Cash Advance Centers Second Quarter Earnings Results Conference Call. As a reminder, this conference is being recorded. At this time for opening remarks and introductions, I d like to turn the call over to Jamie Fulmer. Please go ahead, sir. Good morning. Before we begin, let me remind you that during this call, our comments will include certain forward looking statements. All comments on this call other than those relating to our historical information on our current conditions will be forward looking statements. For example, any statements regarding our future expenditures and financial performance, our plans for product expansion, our business strategy, perspective demand for our products or expected legislative or regulatory developments that may affect Moncler down jackets Men with zip coffee the cash advance services industry are forward looking statements. Please note that these forward looking statements reflect our opinions only as of the day of this presentation and we undertake no obligation to revise or publicly release the results of any revisions to these forward looking statements in light of new information or future events. In this regard, please keep in mind that our actual future results could differ materially from our expectations and are subject to risks, uncertainties and other factors many of which are not within our control or may not be predicted. Now, I d like to turn the call over to our Chief Executive Officer, Pat Shaughnessy. Good morning and welcome to our second quarter 2011 earnings call. Also joining me today is Jim Ovenden, our company s Chief Financial Officer. Yesterday we were pleased to report the results of the quarter ended June 30, 2011. Before we discuss the financial results in detail, I would like to briefly update you on a few developments since our last call. Yesterday, our Board of Directors approved Advance America s 27th consecutive dividend since becoming a public company. This dividend of $6.25 per share is Moncler Mens jackets Plaid hooded Zip White cell payable on September 2 to stockholders of record as of August 23, 2011. I d now like to briefly discuss recent legislative and regulatory developments concerning our industry at both the state and the federal level. Let me begin at the state level where legislative sessions have ended in most states across the country. In fact, as of today, legislatures remain in session in only six states. The legislative season has been a productive one as state governments continue to carefully examine the regulatory landscape as it relates to financial services including access to short term credit, and developed rules that are designed to both protect and meet the needs of consumers. Most notably, new laws were passed in Texas, Wisconsin, and Mississippi. We were supportive of these changes and believe that they Moncler Maya Men down jackets dark purple are all consistent with our efforts to both regulatory of frameworks that enable the provision of affordable, simply, reliable, and perhaps most important transparent financial services in each of the states where we operate. As a company with a large national footprint, this activity at the state level is crucial to how we operate our business. As we have pointed out on a number of occasions, the products offered by Advance America are highly regulated by state and federal officials across the country. Specifically, state laws typically limit the principal amount of an advance, they set maximum fees available, limit a customer s ability to renewal an advance and require the form and substance of disclosure. Overall, we believe many of the measures approved by lawmakers this year provide our customers with meaningful projections, while also acknowledging our continued need to obtain affordable short term credit. At the federal level, efforts to form the new Consumer Financial Protection Bureau continue to generate a great deal of attention from lawmakers and the media. It has been widely reported that July 21, 2011, was the official start date for the Bureau. Even though the Bureau officially began its work last Thursday, its staff has been laying the initial groundwork for months. As they work to fulfill their statutory mandates, Bureau staff is actively meeting with financial services industry representatives, advocacy group, members of Congress, and moncler jackets cheap other interested parties in an effort to include a diversity of perspective in its research and rule making. As we have stated previously, Advance America fully intends to be a constructive participant in this process. Amid the broad regulatory discussions in Washington, we must be continually mindful of where the rubber meets the road. Millions of Americans continue to seek viable avenues for overcoming financial shortfalls in avoiding related punitive consequences. Late payment fees, damage to credit scores, a loss of critical services such as utilities and healthcare. Moreover as demand for varied credit services grow, the traditional line between what are often refer to is, mainstream and alternative offerings have blurred or disappeared altogether. Consumers consider many credit offerings to be comparable because they can function in similar ways regardless of whether the provider is a bank, a credit union or a retail lender. But these services often have very different cost structures, terms and disclosures. Bureau officials have made it clear they will seek to establish a level regulatory playing field between these different types of financial service providers in order to ensure fair competition and comparable protections for consumers across all credit products. We at Advance America wholeheartedly agree with this approach and believe that consumers thrive in a competitive regulated and transparent financial services market. Ensuring regulatory parity among credit providers is essential for such an environment to exist. Comparable short term credit options including small dollar loans, banking credit union overdraft programs, as well as cash advances should be governed by similar regulations. In particular, this frameworks include uniform disclosure requirements to make sure consumers are equipped with all the information they need to compare the costs and benefits of these services. Such an approach will provide equitable treatment from lenders without limiting consumer choice. The need for affordable credit among many Moncler Men short Sleeves T-shirt blue red Americans is clearly not abating. Business leaders and public officials alike have worked together to ensure that debt marketplace can meet this demand by offering consumers a variety of simple, transparent and effectively regulated options. As we had discussed in the past, we spent a lot of time and energy on our efforts to ensure that investors, legislators, regulators and those in the media better understand our products, how they are marketed, and why millions of American consumers value and have a critical need for small dollar short term loan products. We do this because it seems as if every day there is a fresh example of how huge the gap has become between the perceptions that are based on the lack of factual information that critics of our industry seek to promote. And the distinct reality experienced by our customers, the actual people who use our moncler jumpers men products and services. To help bridge that gap and dispel some of the myths about the services we offer, Advance America recently launched that you might me surprised campaign. Through this program we seek to educate and engage American consumers about their short term borrowing options and the many different credit services that might meet their financial needs. Also for those who think they already understand our services and customers, they clearly do not, you might be surprised, it s a great way to show who our customers really are and to hear their personal voices by allowing them to share their actual stories. For those who have to wake up each day and go to work for Advance America, we are extremely proud of the high level of regard our customers have for us. The great appreciation they have for the services that we provide and the comfort and peace of mind they feel Moncler Down Jacket Grey BRANSON because we are there for them when they need us. Our customers virtually all of them have a banking relationship, choose from a variety of credit options offered by any number of financial services providers. Ultimately, their decisions are based on value, service, reliability and convenience. They turn to Advance America because our service does suit their needs. As one customer in the You Might Be Surprised campaign told us, the reality of it is that you are not always going to have what you need. And so sometimes as working adult, you know that you have a responsibility to provide for your family. And if it requires you needing to get that help, then that s an alternative sometimes you have to take. You don t always want to ask your family to borrow money, you don t always want to go to a friend, you ultimately want to have a second option

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Cash Advance Payday Loans And The Proposed CFPA Bill Legislation Cash Advance Payday Loan Companies May Be Affected By Proposed CFPA Bill LegislationThe proposed legislation behind the Consumer Financial Protection Agency (CFPA) spells potential danger for those looking to acquire payday loans. Meanwhile, nfl jerseys those who financially back such loaners are in just as uch danger. Looking to cap interest, restrict loans given, and regulate lending, the CFPA serves as a potential game changer to how payday loans operate. Traded companies such as Advance America, Cash America, and EZCORP (among others) face potential financial turmoil in the midst of the CFPAs regulations. Now Moncler with hooded zip Men down jacket short Military green might be the best time to look into payday loans, as their future remains unclear with looming payday loan regulations.Payday loans have previously been regulated state by state. Although moncler new york states have already implemented restrictions on loaners, certain exemptions and loopholes have allowed lenders to continue their operation. Congress looks to close these holes. A 36% interest rate cap serves as one of the first measures, moncler jas slashing revenue for loan companies. Cash advance loans essentially exist because of their high rates, and such restrictions could bring loan companies to extinction. While the interest cap alone has the potential to cripple loaners, the legislation Moncler down jackets Women pink Moncler jackets Women fox fur zip style black doesnt stop there.The CFPA also looks to limit the amount of loans given to six per year. This is a substantial cut, as 60% of cash advance loans are made to borrowers who take out loans moncler jackets prices at least twelve times per year. The CFPA also stated the desire to regulate transactions, a vague notion that spells further uncertainty for the cash advance loan business. The six loan limit seems to serve as the heaviest Moncler Marmelade Coats Long Women rabbit hooded purple blow to loaners as the amount of average loans per year would be cut in half. Theres little to nothing that loaners can do to avoid what the CFPA bill legislation hopes to bring, and with the amount of loans given being Moncler coats for Women Fur collar long light gray slashed it seems that there will be no way for them to bounce back.The future remains unclear for lenders and borrowers, and the latter need to take notice. The payday loan system as it is faces potential extinction. Those looking to acquire a payday loan should take advantage of time and borrow while they still can

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