Payday lender Cash America International Inc is revisiting a plan to spin off its online lending business to focus on its storefront operations that includes pawn.The company's shares rose 15 percent as a spinoff would separate the fast-growing pawn business from the highly regulated online payday lending operations."Managing these two diverse businesses is complex and is simplified by the spinoff," Sterne Agee & Leach Inc analyst Henry Coffey said.Payday lenders such as Cash America provide small short-term loans at high interest rates to help a borrower get to the next paycheck. But such lenders have come under increased regulatory scrutiny in the United States in recent years.
Cash America International, Inc., provides specialty financial services to individuals through retail services locations and through electronic distribution platforms known as e-commerce activities. Shares of CSH traded higher by 11.92% or $4.59/share to $43.09. In the past year, the shares have traded as low as $34.80 and as high as $50.04. On average, 326108 shares of CSH exchange hands on a given day and today's volume is recorded at 1168505.
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