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Alternative Financial Solutions is a company specializing in the development of software and hardware solutions for the financial industry. Alternative Financial Solutions began as a software development team for a leader in the sub-prime lending and pawnbroker industry with the purpose of developing automated lending solutions.
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Are you aware of the new law in Texas concerning Credit Service Organizations (now Credit Access Business, CAB) for offering Payday Loans and Title Loans in Texas? The new law goes into affect January 1, 2012. Changes in the current law will include: Net asset requirements, New bond requirements, Registering with the Office of Consumer Credit Commissioner, An annual licensing fee, Annual contribution to the Texas Financial Education Endowment, Annual volume fee, Provide information on all ownership of the CAB, Provide information on your third party lender, and Filing of quarterly reports.
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