A new earnings report released last week further supports CashNetUSA as one of the largest – if not THE largest – online payday loan providers.

Since being acquired by Cash America International Inc. two years ago, CashNetUSA’s earnings potential and financial reports have been grouped together with its parent company’s brick and mortar cash advance operations. On Friday, with the announcement of Cash America’s third quarter earnings report, this all changed.

For the first time since acquisition, consumers outside the company were able to see how large of a player CashNetUSA is in the online payday loan market. Our stance as not only being the most licensed lender, but also the largest and most trusted by consumers, was finally supported by hard and fast numbers.

For more information about the details of this report, Cash America or CashNetUSA’s innovative programs or other financial news, please click here.

How do you know who to trust with your emergency money needs?

A recent federal court case has once again turned the spotlight on under-licensed or dubious lending practices in the short-term loan industry. The result of the case – which found a specific loan company in violation of offering services in a state where it was not licensed – has brought the case for state-licensed lending to the forefront of news and legislation.

In the payday loan industry, companies can use one of three business practices to offer their services:

1. Offshore – An obviously dishonest practice, some companies set up in foreign countries and use legal loopholes to service customers in the US without any form of regulation or legal recourse for unsatisfied customers.

2. Choice of Law – The majority of payday lenders become licensed in a single state, while offering services to consumers beyond that state’s border. That means you could be a resident of Illinois, but be borrowing money from a company established in Utah that does not have to follow the laws and regulations that your legislature has put in place for your protection. The decision from this latest federal case, however, is spelling out the end of these less-than-honest lenders – forcing them to become licensed in more states or be run out of business in favor of fair and honest lenders.

3. State Licensing – Regarded as the most transparent and consumer-focused business strategy, companies relying on the State Licensing methodology actually apply for and are approved by every state in which they do business. This ensures that their customers are receiving full protection from their own state legislature, that the lender is allowed to charge only acceptable fees and must face repercussions if consumers are unhappy with their services. Though State Licensing is the best strategy for consumers, it’s also beneficial for the lender itself – ensuring a long and happy relationship with customers and permission from the state to serve as an accepted financial service.

As Offshore and Choice Law are slowly but surely being pushed towards State Licensing or out of business, current State-Licensed companies such as CashNetUSA are thriving on the successful and fair lending practices which they stood behind all along. With approval for lending in over 30 states, CashNetUSA has become the leader in online payday lending through safe and secure practices, customer-forward services and smart business decisions.

As always, it’s important to know who your personal lender is and what regulations they follow. When you are in need of emergency cash, rely on the lender that has always been, and will forever be, dedicated to the most fair lending services – CashNetUSA.