JimmyCsays: At the juncture of journalism and life that is daily KC

Share on facebook
Share on twitter
Share on google
Share on linkedin
Share on whatsapp
Share on pinterest

JimmyCsays: At the juncture of journalism and life that is daily KC

“Good Catholic men” making a killing in the pay day loan company

Take a good look at this picture of an old choir boy…Well, really, we don’t understand that he was once a student at Visitation Grade School and later Rockhurst High School and is from a highly regarded Visitation family if he was a choir boy but I do know.

As a grownup, nevertheless, he has got been neck deep in the pay day loan company.

Tim Coppinger, in picture from Visitation Catholic Church 1985 directory

At the very least two other former Visitation boys, Vince and Chris Hodes, are also tangled up in that seamy company.

I’ve been asking myself how exactly does this equate kids that are bedrock Visitation families going to the business of creating fortunes at the cost of the indegent?

I understand that greed is one of many Seven Deadly Sins and therefore it may hit anybody. However it’s nevertheless difficult for me personally to get together again.

For the record, we don’t think I’ve ever met some of the three; I’m at the least two decades more than they truly are. But i will be knowledgeable about their moms and dads. Tim Coppinger’s daddy is really a physician that is respected now mostly resigned; their mom an anchor at Visitation Church. The Hodes family members has a rather effective plumbing system supply company, now owned and operated by way of a family member that is third-generation.

A few people in the Hodes family members have now been major contributors to Visitation Church, especially up to a $13-million-plus renovation and expansion of this church, 51st and principal, about a decade ago.

Two sources explained that Tim Coppinger contributed the income in the past for construction of an innovative new track that is running Coppinger Family Track — payday loans Dorset at St. Teresa’s Academy, 55th and principal.

My guess is ill-gotten cash compensated for that track. And, in my opinion, that raises a additional problem: Did the St. Teresa’s management and board of directors understand how Tim Coppinger had made their money? If that’s the case, did they ever think about rejecting the funds?

Previously this week, a Kansas City celebrity editorial made note regarding the “awkward twist” by which a few of the dirty cash had been later directed to philanthropic reasons.

Tim Coppinger has become a defendant in a Federal Trade Communication lawsuit that says he and another guy, Frampton T. Rowland III, had been in the commercial of “bilking cash-strapped consumers away from because much cash as feasible.”

The FTC alleges that Coppinger and Rowland used personal financial information about people to make phony loans that consumers hadn’t agreed to — and that some had never applied for in recently unsealed court filings. The defendants then made one-time electronic deposits in the “borrowers” bank accounts and started debiting the reports indefinitely for biweekly “finance costs” of $60 to $90. Nevertheless the amount that is principal frequently $150 to $300 — never went away, based on the lawsuit.

Then, you can find the Hodes brothers.

In a December 2013 tale, the Pitch said that Vince Hodes led an ensemble called the Vianney Fund, which this year desired $20 million from investors, having a $100,000 minimum buy-in.

The Pitch quoted the firm’s offering that is initial saying, to some extent:

“We intend to target a lot of the Company’s efforts and investments on money loans to payday-lending businesses both in the retail and markets that are internet. Nonetheless, the business could also expand credit with other Subprime Borrowers, including check-cashing, rent-to-own, subprime mortgage, and pawn stores.”

“put simply,” The Pitch concluded, “Vianney is an equal-opportunity exploiter of bad individuals.”

Here’s just exactly what that same Pitch tale stated about Chris Hodes:

“From a Brookside building at 601 East Street that is 63rd presides over a number of hard-to-pin-down organizations. Predicated on legal actions filed in the last few years, he is likely very much immersed when you look at the lending industry that is online.

“In 2010, the Arkansas Attorney General sued Arrowhead Investments and Galaxy advertising, in addition to Christopher Hodes (whom it purported to end up being the controller of the two businesses), for lending on the internet to Arkansans at interest levels of 782 per cent. Arkansas legislation caps customer financing prices at 17 percent. The businesses settled and promised not to ever provide into the state once more.”

Seven-hundred eighty-two %!

We mentioned these dudes’ family backgrounds because that is just a part that is significant of disconnect. Additionally, this really isn’t simply any parish, it is Visitation, among the wealthiest parishes per capita into the Kansas City area, and truly the wealthiest per capita within the city.

I realize that parents can not be held accountable for just what their adult kids do, but We wonder just what the moms and dads think of these specific sons’ notions of “success.”

Let’s make a very important factor, clear, though: These guys are an embarrassment with their families, to Visitation also to their community.

That exact same KC celebrity editorial stated:

“To its chagrin, the Kansas City area is actually a hotbed for abusive pay day loan operations…payday loan operations are toxic enterprises, plus it’s to Kansas City’s detriment they received the economic and tech support team to flourish right here.”

It couldn’t have already been done minus the participation that is willing of whom tossed apart their ethical compasses in the interests of many big paydays. Now, as governments move around in to place a stop with their wrongdoings, allow them to bask in pity.

Deixe uma resposta

O seu endereço de e-mail não será publicado. Campos obrigatórios são marcados com *

Grupo WG Almeida
Enviar via WhatsApp