Flexpower Inc. (FLXP)

[itlogic]

I thought that was just a cap and the lender still had some leaway in the rates they charge below or up to that cap? I'm not completely up to speed on the whole lending thing, but if what you say is true, then all lenders would have the same rate. Other than insentives, there would be nothing to make one lender more sellable than the other.

I always thought the prime was the rate that banks get money from the feds. Then, in return, the lender lends you money a little over prime. That would give them enough to pay back the feds and put a little extra in their pockets. Does the prime rate even apply to pay day loans since they are not dealing with a bank?