Jimmy Csays: during 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, but, he’s got been neck deep in the loan business that is payday.

Tim Coppinger, in photo from Visitation Catholic Church 1985 directory

At the least two other previous Visitation boys, Vince and Chris Hodes, are also associated with that seamy company.

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

I realize that greed is among the Seven Deadly Sins and that it may hit anyone. Nonetheless it’s nevertheless difficult for me personally to get together again.

For the record, I don’t think I’ve ever met any of the three; I’m at the least two decades avove the age of they truly are. But i will be acquainted with their moms and dads. Tim Coppinger’s daddy is just a physician that is respected now mostly resigned; their mom an anchor at Visitation Church. The Hodes family members has an extremely 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 to a $ renovation that is 13-million-plus expansion regarding the church, 51st and Main, about a decade ago.

Two sources said that Tim Coppinger contributed the amount of money in the past for construction of a unique track that is running Coppinger Family Track — at St. Teresa’s Academy, 55th and Main.

My guess is the fact that money that is ill-gotten for that track. And, in my opinion, that raises an issue that is secondary Did the St. Teresa’s administration and board of directors discover how Tim Coppinger had made their money? If that’s the case, did they ever give consideration to rejecting the income?

Early in the day this week, a Kansas City celebrity editorial made note associated with twist that is“awkward by which a few of the dirty cash ended up being later directed to philanthropic reasons.

Tim Coppinger is currently a defendant in a Federal Trade correspondence lawsuit that claims he and another guy, Frampton T. Rowland III, had been in the industry of “bilking cash-strapped consumers away from since much cash as feasible.”

In recently unsealed court filings, the FTC alleges that Coppinger and Rowland utilized individual monetary details about visitors to make phony loans that customers hadn’t consented to — and that some https://pdqtitleloans.com/title-loans-nd/ had never ever sent applications for. The defendants then made one-time deposits that are electronic the “borrowers” bank records and started debiting the reports indefinitely for biweekly “finance fees” of $60 to $90. Nevertheless the major amount — frequently $150 to $300 — never went away, in line with the lawsuit.

Then, you will find the Hodes brothers.

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

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

“We intend to concentrate most of the Company’s efforts and investments on financing loans to payday-lending businesses both in the retail and markets that are internet. Nevertheless, 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 definitely an equal-opportunity exploiter of bad individuals.”

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

“From a Brookside building at 601 East 63rd Street, he presides over a number of hard-to-pin-down organizations. Centered on legal actions filed in modern times, he could be likely very much immersed into the online financing industry.

“In 2010, the Arkansas Attorney General sued Arrowhead Investments and Galaxy advertising, along with Christopher Hodes (who it purported to function as the controller of those two organizations), for lending on the internet to Arkansans at interest levels of 782 percent. Arkansas legislation caps customer financing prices at 17 per cent. The firms settled and promised to not provide into the continuing state once more.”

Seven-hundred eighty-two %!

We raised these guys’ family backgrounds because that is really a significant area of the disconnect.

additionally, it isn’t simply any parish, it is Visitation, one of several wealthiest parishes per capita within the Kansas City area, and truly the wealthiest per capita within the town.

I realize that moms and dads can’t be held accountable for just what their adult kids do, but We wonder exactly exactly exactly what the moms and dads consider these sons that are particular notions of “success.”

Let’s make something, clear, though: These guys are an embarrassment for their families, to Visitation also to their community.

That KC that is same editorial stated:

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

It couldn’t have already been done with no ready involvement of individuals whom tossed apart their ethical compasses in the interests of numerous big paydays. Now, as governments relocate to place an end for their wrongdoings, allow them to bask in pity.

Share This Post

Post to Twitter Post to Yahoo Buzz Post to Delicious Post to Digg Post to Facebook

Leave a Reply