Atlanticus Holdings Corporation provides various credit and related financial services and products primarily 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 the company’s point-of-sale and direct-to-consumer finance operations, investments in and servicing of its various credit card receivables portfolios and other testing and limited investment in consumer finance technology platforms 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 payment 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, the company’s rent-to-own options allow consumers to obtain and use brand name products with flexible rental purchase agreements and no long-term obligations. Auto Finance This segment’s operations are principally conducted through the company’s CAR platform. CAR primarily purchases and/or services 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 offers floor-plan financing to this same group of dealers and finance companies. In 2013, the company also started offering certain installment lending products in addition to its traditional loans secured by automobiles. The company, through its CAR operations, generates revenues on purchased loans through interest earned on the face value of the installment agreements combined with discounts on loans purchased. The company earns discount income through 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. The company offers various other products to its network of buy-here, pay-here dealers (including the company’s floor-plan financing offering), but the majority of its activities are represented by its purchases of auto loans at discounts and its servicing of auto loans for a fee. As of December 31, 2014, the company’s CAR operations served approximately 570 dealers in 36 states, the District of Columbia and 2 U.S. territories. Consumer and Debtor Protection Laws and Regulations Credit and Other Investments 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 federal Wall Street Reform and Consumer Protection Act; the federal Truth In Lending Act; 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. The company is licensed and regulated by the Financial Conduct Authority and is 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 This segment is regulated directly and indirectly under various federal and state consumer protection and other laws, rules and regulations, including the federal Truth In Lending Act, 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. The company must comply with guidelines under the Gramm-Leach-Bliley Act that require each financial institution to develop, implement and maintain a written 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. Intellectual Property The company owns Aspire, Emerge, Imagine, Majestic, Monument, Salute, Tribute, Fortiva, and other trademarks and service marks in the U.S. and the U.K. Competition Auto Finance: The company competes primarily with a handful of national and regional companies focused on this credit segment (such as 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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