Small-dollar lending

The consent order against California Check Cashing Stores is part of a broader crackdown by the Department of Business Oversight on small-dollar lenders trying to skirt interest rate limits.

Some in the industry worry the Fed may balk at allowing OCC charter recipients into the payments system, but Otting downplayed those concerns.

The agency is expected soon to propose a revamp of the 2017 regulation that would eliminate the ability-to-repay provisions, which small-dollar lenders saw as a direct threat to their business.

A credit-builder loan at Virginia-based The Partnership Federal Credit Union wasn't meeting the needs of as many members as it could. Here's how the CU fixed that problem.

The FDIC is seeking comment on how to encourage small-dollar lending at banks, signaling a course change from guidance it issued five years ago restricting such loans.

Reversing a previous order, the Texas judge granted part of the bureau's request to stay the effective date and allow time for the agency to work on changes to the rule.

The agency wants to change underwriting requirements in the regulation that lenders say will put them out of business, and give companies a break on the compliance deadline.

The program will focus on increasing lending to small and medium enterprises in Guatemala, Burkina Faso and Kenya.

Banks are being encouraged to offer smaller loans as an alternative to payday products, but their high interest rates can still put consumers in debt.

Among the three measures is a requirement for boards of publicly traded firms to include more women.