The Internet-based sector of the payday loan industry began in the 1990s, when the CAN-SPAM Act didnt yet exist.. Thats because the Act didnt exist back then. But as the popularity of the payday lending industry has grown, along with the popularity of all sorts of online businesses, it was time for the false claims and the intrusive nature of e-mail marketing to come under control once and for all. When the CAN-SPAM Act of 2003 became reality, the online payday lending industry took notice.
The goal of CAN-SPAM, short for Controlling the Assault of Non-Solicited Pornography and Marketing Act was to set standards for distinguishing between e-mails that are legitimate and those which are SPAM. The sending of SPAM is against the law. Since the Act applies to all businesses that use email in their operations, most payday lenders found themselves needing to understand this new law that outlined severe consequences including penalties and jail.
Online payday lending and the CAN-SPAM Act
The CAN-SPAM Act delineates guidelines for using email addresses for the purpose of sending and receiving electronically transmitted marketing materials. It is an extensive act,...
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