Cash America 2007 Annual Report Download - page 32

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12
point-of-sale system, transaction monitoring systems and employee-training programs permit it to
effectively comply with the foregoing requirements.
Certain subsidiaries of the Company are registered as money services businesses with the U.S.
Treasury Department and must re-register with FinCEN at least every two years. The Company must also
maintain a list of names and addresses of, and other information about, the Company’s stores and must
make that list available to any requesting law enforcement agency. The store list must be updated at least
annually.
A new law passed by the United States Congress in 2006 that became effective in October 2007
caps the annual percentage rate that may be charged on loans made to active duty military personnel and
their immediate families at 36%. This 36% annual percentage rate cap applies to a variety of loan products,
including cash advances, though it does not apply to pawn loans. The Company does not have any loan
products bearing an interest rate of 36% per annum or less, as the Company believes the losses and servicing
costs associated with lending to the Company’s traditional customer base would exceed the revenue
produced at that rate. The Company does not expect this new law to have a material adverse effect on the
Company’s financial condition or results of operations due to the relatively small number of cash advance
loans extended to military historically.
Casualty insurance, including burglary coverage, is maintained for each of the Company’s locations,
and fidelity coverage is maintained on each of the Company’s employees.
Management of the Company believes its operations are conducted in material compliance with all
federal, state and local laws and ordinances applicable to its business.
The Company’s franchising activities may be subject to various state regulations that, among other
things, mandate disclosures to prospective franchisees and other requirements.
Executive Officers of the Registrant
The Company elects its executive officers annually. The Company’s executive officers, and
information about each, are listed below. There is no family relationship between any of the executive
officers.
Name
Age Position
Daniel R. Feehan 57 Chief Executive Officer and President
Albert Goldstein 27 President – Internet Services Division
John A. McDorman 60 President – Shared Services Division
Jerry A. Wackerhagen 52 President – Retail Services Division
Thomas A. Bessant, Jr. 49 Executive Vice President – Chief Financial Officer
Robert D. Brockman 53 Executive Vice President – Administration
Michael D. Gaston 63 Executive Vice President – Corporate Development
James H. Kauffman 63 Executive Vice President – Corporate Development
J. Curtis Linscott 42 Executive Vice President – General Counsel and Secretary
Dennis J. Weese 44 Executive Vice President & Chief Operating Officer – Retail
Services Division
Daniel R. Feehan has been Chief Executive Officer and President since February 2000. He served
as the Company’s President and Chief Operating Officer from January 1990 until February 2000, except
that he served as Chairman and Co-Chief Executive Officer of Mr. Payroll Corporation from February 1998
to February 1999 before returning to the position of President and Chief Operating Officer of the Company.
Albert Goldstein, CFA, joined the Company in September 2006 as Executive Vice President –
Internet Lending, as part of the Company's acquisition of CashNetUSA, and was named President of the