Owned by data vendor CoreLogic, Teletrack has a database of background information on the over 39 million financially-distressed consumers who frequent payday loan shops and rent-to-own stores.
As our organization grows, we hope to establish our own micro-loan program that will benefit the homeless participants as a crucial first-step in escaping homelessness.
First, under the Basel system that allows big banks with "advance" status to set their own evaluations of the riskiness of different categories of loan - the so-called risk weights - there is not enough consistency in how much capital different banks hold to cover similar risks.
Some examples are advertising and pre-approval, and some lenders have the option to approve or deny the loan application based on their own discretion.