A provider of various credit and related financial services and products to or associated with the underserved, or sub-prime, consumer credit market, and to 'un-banked' consumers.
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A leader in subprime lending, but not mortgage lending. Primary business revolves around credit card issuance and bundling the debt for others to invest in. They are also moving forcefully into car loans, and are rumored to be in talks about adding Barclay's subprime credit card division. Forward PE is miniscule with the recent drop. The subprime mortgage fiasco and the recent talks on capital hill about predatory lending practices by major banks will hold CCRT back for a while. However, I do not believe that CCRT belongs in the discussion regarding subprime mortages or predatory lending practices. They do not do mortgages, so when a card holder defaults, they are not stuck with a hugh loss. Additionally, the housing market has little bearing on their borrowers. As far as predatory lending, CCRT appears to spell out their terms clearly and their customers come to them because they need to. The big banks are hitting people with hidden fees. Good place to get in on this one, with obvious room to grow.