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Viewpoint: FDIC's Bad Bet on Small-Dollar Lending

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The FDIC should use its experience from the Small Dollar Loan Pilot Program to illustrate to members of Congress that an arbitrary cap on small-dollar loans, such as a 36% APR ceiling, is unrealistic.

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The $25 billion mortgage robo-signing settlement is:
Political extortion from the banks in an election year
A slap on the wrist — the banks put reserves away for this long ago, they won't even feel it
A source of relief for both banks and homeowners that could help the housing market and economy recover
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