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Fitzpatrick to Present Product preparedness StrategiesFitzpatrick to Present Product preparedness Strategies

In The Know/Tranews

September 2010

FITZPATRICK TO PRESENT PRODUCT PREPAREDNESS STRATEGIES

Online Lenders Alliance to Meet September 15-17, 2010 in Chicago

TranDotCom Founder and CEO Joe Fitzpatrick will jointly be presenting with Alan Kaplinksy Esq., "New Products - New Horizons" at the upcoming Online Lenders Alliance (OLA) Fall Conference. The session is scheduled for Thursday, September 16 at 2:55 pm.

The OLA Fall Conference is being held September 15-17, 2010 at The Drake Hotel, Chicago, IL. Following a theme of "Building for the Future, Uniting for Success," the conference sessions will focus on how lenders can not only SURVIVE in today's challenging environment, but also THRIVE.

Fitzpatrick's participation is a continuation of TranDotCom's ongoing support of the OLA and comes as a follow-up to his "Moving Beyond Payday Lending" presentation delivered at the 2009 OLA fall event. The collaboration with Kaplinsky will provide attendees with insights into both the operational as well as legal aspects of potential alternative product offerings for short-term lenders. Mr. Kaplinsky is a senior partner in the Business and Finance Department and Chair of the Consumer Financial Services Group for law firm Ballard Spahr LLP.

In the 2009 session, Fitzpatrick addressed the premise that consumer demand for short-term debt will always exist, but that lenders must be prepared to contend with inevitable changes. Now, with the creation of the Bureau of Consumer Financial Protection (BCFP), there is certain change on the horizon. Mr. Kaplinksy will be discussing the known and yet unknown regulatory ramifications of the formation of the BCFP on short-term lending. Focusing on the five core products of short-term loans, installment loans, lines of credit, online title loans and pre-paid cards, Mr. Fitzpatrick will outline the benefits of each and how they can be integrated within product offerings now, and then be adapted as conditions change.

"If lenders are proactive now and develop any or all of these product models they will be well prepared to confront the impending changes rather than being reactive when the regulations are finalized in the coming year," said Fitzpatrick. "We are going to be presenting attendees with options that can be implemented now in compliance with current state-by-state requirements and then easily adjusted as the environment changes," he reports.

For additional information, and conference and registration details, visit www.onlinelendersalliance.org

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