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Regulators are urging banks to offer small-dollar loans again and lifting existing restrictions on nonbank lenders. But the real challenge is making those loans favorable to consumers without losing money.
July 29 -
Members of the Senate Banking Committee took the agency’s leader to task for eliminating underwriting requirements for small-dollar lenders, which lawmakers said has left consumers more vulnerable during the pandemic.
July 29 -
Trump-appointed regulators gave the industry the green light to offer installment loans during the pandemic. But with concerns that the light could turn red in 2021, bankers remain extra cautious.
July 19 -
Consumers now have more control over their own financial decisions and loan options.
July 14Community Financial Services Association of America -
Consumers now have more control over their own financial decisions and loan options.
July 8Community Financial Services Association of America -
The German bank agreed to pay $150 million to New York State for its dealings with Jeffrey Epstein; the new tool will help lenders determine which borrowers are in the best shape to weather a crisis.
July 8 -
The agency sought to provide certainty that most actions from the past eight years remain in effect despite the ruling that the bureau's leadership structure is unconstitutional.
July 7 -
The agency delivered long-anticipated regulatory relief to the small-dollar loan industry by eliminating ability-to-repay requirements imposed under the bureau’s former director.
July 7 -
Tom Pahl, a former longtime regulator at the Federal Trade Commission, has led key rulemaking efforts for the consumer bureau.
July 2 -
The bank’s Asia-Pacific chief backs law giving greater mainland control over the territory; the Center for Responsible Lending said big banks took in almost $12 billion in overdraft fees last year, with the bulk of it paid by lower-income customers.
June 4