Atlanticus Holdings Corporation, through its subsidiaries, provides various credit and related financial services and products to or associated with the financially underserved consumer credit market. Segments The company operates through two segments, Credit Cards and Other Investments, and Auto Finance. Credit and Other Investments This segment includes its point-of-sale finance operations, investments in and servicing of its various credit card receivables portfolios and other testing and limited investment in ancillary finance, technology and other products that generally capitalize on its credit infrastructure. The company’s point-of-sale finance operations allow retail partners to offer installment lending or revolving credit options, as well as rent-to-own arrangements to their customer base. The company provides this service by allowing retail partners access to its proprietary online application processing and offering competitively priced financing options to consumers and other offerings unique to the industry. The company’s installment and revolving credit loans cover various goods and services including consumer electronics, furniture, elective medical procedures and home-improvements. Alternatively, its rent-to-own options allow consumers to obtain and use brand name products (in the aforementioned categories) with flexible rental purchase agreements and no long-term obligations. Auto Finance This segment’s CAR subsidiary operations principally purchase and/or service loans secured by automobiles from or for a pre-qualified network of independent automotive dealers and automotive finance companies in the buy-here, pay-here, used car business. The company purchases auto loans at a discount and with dealer retentions or holdbacks that provide risk protection. Also within its Auto Finance segment, the company manages portfolios of auto finance receivables that it previously originated through franchised and independent auto dealers in connection with prior business activities, as well as provides additional lending products, such as floor plan financing and additional installment lending products to certain dealers. In 2013, the company also started offering certain installment lending products in addition to its traditional loans secured by automobiles. Through its CAR operations, the company generates revenues on purchased loans through interest earned on the face value of the installment agreements combined with discounts on loans purchased. It generally earns discount income over the life of the applicable loan. Additionally, the company generates revenues from servicing loans on behalf of dealers for a portion of actual collections and by providing back-up servicing for similar quality assets owned by unrelated third parties. As of December 31, 2013, the company’s CAR operations served approximately 600 dealers in 37 states. Regulations Credit and Other Investments Segment: The company’s U.S. business is regulated directly and indirectly under various federal and state consumer protection, collection and other laws, rules and regulations, including the federal Credit Card Accountability Responsibility and Disclosure Act of 2009 (the CARD Act), the federal Wall Street Reform and Consumer Protection Act, the federal Truth In Lending Act (TILA), the federal Equal Credit Opportunity Act, the federal Fair Credit Reporting Act, the federal Fair Debt Collection Practices Act, the Federal Trade Commission Act, the federal Gramm-Leach-Bliley Act and the federal Telemarketing and Consumer Fraud and Abuse Prevention Act. In the U.K., the company’s credit card operations are subject to U.K. regulations that provide similar consumer protections to those provided under the U.S. regulatory framework. The company is licensed and regulated by the Office of Fair Trading, and it is are governed by an extensive legislative and regulatory framework that includes the Consumer Credit Act, the Data Protection Act, Privacy and Electronic Communications Regulations, Consumer Protection and Unfair Trading regulations, Financial Services (Distance Marketing) Regulations, the Enterprise Act, Money Laundering Regulations, Financial Ombudsman Service and Advertising Standards Authority adjudications. Auto Finance Segment: This segment is regulated directly and indirectly under various federal and state consumer protection and other laws, rules and regulations, including the federal TILA, the federal Equal Credit Opportunity Act, the federal Fair Credit Reporting Act, the federal Fair Debt Collection Practices Act, the federal Gramm-Leach-Bliley Act and the federal Telemarketing and Consumer Fraud and Abuse Prevention Act. Privacy and Data Security Laws and Regulations: The company must comply with guidelines under the Gramm-Leach-Bliley Act that require each financial institution to develop, implement and maintain a written, comprehensive information security program containing safeguards that are appropriate to the financial institution’s size and complexity, the nature and scope of the financial institution’s activities and the sensitivity of any customer information at issue. Additionally, various federal banking regulatory agencies, and at least it must comply with guidelines under the Gramm-Leach-Bliley Act. Competition The company competes with Credit Acceptance Corporation; Westlake Financial; Mid-Atlantic Finance; General Motors Financial Company, Inc.; Drive Financial; Western Funding Inc.; and America’s Car-Mart. History The company was founded in 1996. It was formerly known as CompuCredit Holdings Corporation and changed its name to Atlanticus Holdings Corporation in 2012.
atlanticus holdings corp
Five Concourse Parkway
Atlanta, GA 30328
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