Don Gayhardt, CURO: Overselling The Worthiness Of Payday Advances To People And Investors Alike

Longtime Payday Lending Executive Donald Gayhardt Believes That High-Interest Payday Advances Are A “‘Bargain’” For Borrowers.

Donald Gayhardt Is The elected President And CEO Of CURO, Which Operates Payday Lending Companies Fast Money And Fast Money.

Donald Gayhardt Is The President And Ceo Of CURO.

• Donald Gayhardt Once Was The elected President Of Dollar Financial Group From 1993 To 2008. [LinkedIn Profile for Don Gayhardt, accessed 03/27/19]

CURO Group Is “One Of America’s Biggest Payday Lenders,” Which “Lends Online” And “Operates 405 Outlets in the usa And Canada,” “One of America’s biggest payday lenders has floated in the stock exchange with a $620m valuation, cashing in on mounting hopes that the Trump management and Republicans in Congress will relieve regulatory limitations from the sector. Curo Group, which targets ‘underbanked’ consumers and it is behind WageDayAdvance in the united kingdom along with Speedy Cash in america, started exchanging in the ny Stock Exchange on Thursday. […] Based in Wichita, Kansas, the company charges customers up to $25 for almost any $100 they borrow. It lends online and additionally operates 405 outlets in the usa and Canada, even though it is shutting its 13 British branches. Curo, supported by the equity that is private Friedman Fleischer & Lowe, raised $93m by attempting to sell a 15 % stake when you look at the float. The stocks had been coming in at the base of a range that is targeted of $14 and $16 a share. The company ended up being created by Doug Rippel, that is chairman that is executive along side Mike McKnight and Chad Faulkner. It really is run by Don Gayhardt, leader, whom received a $2m pay package this past year.” [Alistair Gray, “Payday loan provider Curo floats with $ valuation that is 620m” Financial days, 12/07/17]

• CURO Owns Payday Lending Organizations Fast Money And Rapid Money. “CURO Group has the fast money franchise, which includes three shops when you look at the Kansas City area. It has the Rapid money brand name when you look at the U.S., the Wage Advance and Juo Loans brands in the U.K., and also the money cash and LendDirect brands in Canada. time” [James Dornbrook, “Shareholders look for course action against payday lender,” Kansas City company Journal, 12/07/18]

Don Gayhardt Claimed That Pay Day Loans Are A “‘Bargain’” And “‘Enhance The Commercial Well-Being Of People.’”

Don Gayhardt Claimed That “’Payday Loans Are Not Predatory’” And That They “’Enhance The Economic Well-Being Of People.’” “Industry executives […] argue that payday advances will be the more affordable route for those who are in hopeless need of cash. ‘If it only are priced at $10 to jump a check, I’m perhaps not sure we might have nearly as big a quick payday loan industry,’ claims Don Gayhardt, president of Dollar Financial, a payday lender. ‘Payday loans are perhaps perhaps not predatory. We improve the financial wellbeing of people.’” [Michelle Singletary, “Payday Loans: Costly money [Column],” The Washington Post, 02/25/07]

• Gayhardt Said That Pay Day Loans had been A “‘Bargain.’”“Simply last thirty days 15 million individuals took away payday advances, Gayhardt stated. ‘I think customers comprehend the deal they have by having a loan that is payday’ he said.” [Michelle Singletary, “Payday Loans: Expensive Cash [Column],” The Washington Post, 02/25/07]

Don Gayhardt’s Business Ended Up Being Sued By Investors For Allegedly Creating False And Misleading Statements After He Admitted So It Made A “Mistake” In Portraying Its Earnings To Shareholders.

In 2018, Investors Sued CURO For Presumably “Artificially Inflating Its Stock By Simply Making False And Misleading Statements,” Costing Shareholders “Millions Of Dollars. december”

In December 2018, Investors Sued CURO Group Holdings For Allegedly “Artificially Inflating Its Inventory By Simply Making False And Misleading Statements, Which Caused Shareholders To Reduce Millions Of Dollars.” “Investors in Wichita-based lender that is payday Group Holdings accused business handling of artificially inflating its stock by simply making false and deceptive statements, which caused shareholders to get rid of huge amount of money. CURO Group owns the fast money franchise, that has three shops when you look at the Kansas City area. In addition it has the Rapid money brand name into the U.S., the Wage Advance and Juo Loans brands in the U.K., and the Cash Money and LendDirect brands in Canada day. A good investment team located in Seal Beach, Calif., called Yellowdog Partners LP, that was exchanging CURO stock on a short-term foundation, filed a lawsuit in Kansas federal short term payday loan Caldwell New Jersey court against CURO Group. Yellowdog hired Ryan Hudson and Larkin Walsh of Rex A. Sharp PA in Prairie Village, in addition to lawyers from Keller Lenkner LLC in Chicago and ny. The plaintiff seeks class-action status on behalf of most investors into the business.” [James Dornbrook, “Shareholders look for class action against payday lender,” Kansas City company Journal, 12/07/18]

Don Gayhardt Admitted The Business Made a” that is“‘Mistake Earnings To Investors: “‘We Did A Not As Much As Stellar Job.’”

In October 2018, Don Gayhardt Admitted the organization Made A “‘Mistake’” Communicating Earnings To Investors: “‘We Did a lower than Stellar Job.’” “During an Oct. 25 seminar call with analysts, CURO Group CEO Donald Gayhardt apologized when it comes to huge difference in profits guidance, calling the possible lack of transparency an error. ‘I think it is a really reasonable critique that we did a not as much as stellar task of describing in most likely our July call, as well as back in our April call that which was going – the impact with this on kind of when you look at the near term,’ Gayhardt stated throughout the seminar call. ‘… (We) most likely didn’t lay it away for everyone because clearly as we most likely needs. And we’ll take to not to ever make that error again.’” [James Dornbrook, “Shareholders look for course action against payday lender,” Kansas City company Journal, 12/07/18]