WorldHeatMapGreyVeritec Data Solutions provides support for jurisdictions around the world. We process more than 20 million short-term financial transactions every year in real time, and record and regulate hundreds of thousands of mortgage loan originations per year. A few of the areas we have interests in include:


Canada In 2006, the Canadian government, under pressure from consumer advocates, set a national interest rate cap of 60% per annum.

They also limited the size of payday loans to $1,500 and required that the loan period be less than 62 days. Although, individual provinces are allowed to implement their own regulations if they choose. Currently, there are only a few provinces that still abide by the national standards.

If you would like to read more about the Canadian small dollar credit industry, click here.

United Kingdom

8942029_s The small-dollar credit industry in the UK has more than doubled between 2010 and 2012, from £900 million to over £2 billion in annual short-term credit.

This exponential growth spurred massive criticism, and on April 1, 2014, the Financial Conduct Authority (FCA) formally took control of regulating the consumer credit market, including the £2 billion, 500+ storefront and online payday lending industry. The FCA has since implemented new regulations and procedures to help better protect consumers.

To read more about the UK’s small credit industry, read their case study.


Australia Australia has provided some of the toughest payday regulations and penalties in the world, but many question if it is enough.

With a $1 billion payday lending market, the Australian Government has been struggling to regulate the industry for over a decade. Its most recent amendment, the Consumer Credit and Corporations Legislation Amendment Bill 2011, helped to plug some of the loopholes that lenders had been slipping through in overcharging consumers.

If you would like to read more about Australia’s regulations, click here.


michigan2 In 2005, legislation that regulates the deferred presentment, or payday lending, industry in Michigan was passed. 

It included a variety of consumer protections and a state-controlled database designed to provide effective real-time enforcement and set limitations on the transaction dollar amount, the fees charged to consumers, and the number of open transactions a consumer may have at any one time. 



In 2007, the State of Illinois found itself dealing with more and more predatory mortgage targeting. Something had to be done.

Members of the Illinois legislature banded together to implement Illinois House Bill 1167. This first-of-its kind mortgage bill targeted certain lending activities and made it mandatory for every loan offered to consumers in certain zip codes to be entered into a real-time database. At the time, the legislation was intended to establish a pilot program to determine if the mortgage lending industry could utilise a platform similar to technology that was already in place to regulate short-term “payday” lending.

To read the full case study, visit here.



In 2001, the Florida Legislature was faced with mounting calls to regulate short-term, high cost consumer lending, commonly referred to as “payday lending.”

At the time, Florida consumers were caught in a dangerous situation; while consumer lending on a national scale had general regulatory oversight from the Federal Trade Commission and other federal agencies, gaps in the regulation of these entities at the state level made it possible for consumer to take out multiple short-term loans from various lenders at the same time. Many consumers found themselves with thousands of dollars in loans from several different lenders, all with the same due date. Loan extensions were available, but came with staggering fees. Additionally, states like Florida did not have specific statutes dealing with short term lending.

To read more about Florida’s regulatory database, click here.