Small-dollar lending

To generate revenue, SoLo Funds depends on consumers willing to front funds through its platform.

In successive speeches, Joseph Otting and Jelena McWilliams expressed hope for a Community Reinvestment Act rule by early next year, and also said regulators should align their small-dollar lending policies.

Assemblywoman Monique Limon is in the “early stages” of exploring how to create a state-level Consumer Financial Protection Bureau as part of a broader push for more consumer protection for state residents.

The bureau had already proposed removing the underwriting portion of the rule, but a judge in Texas has indefinitely delayed the other key component as well.

Events like the recent government shutdown present opportunities for banks to help customers when they need it most.

Recent history shows how dangerous these short-term products can be without appropriate guidelines in place.

The industry cheered the bureau’s proposed repeal of its ability-to-repay requirement, but another part of the rule — on account debit restrictions — was left intact, and some companies aren’t ready to comply.

The industry cheered the bureau’s proposed repeal of its ability-to-repay requirement, but another part of the rule — on account debit restrictions — was left intact, and some companies aren’t ready to comply.

Events like the recent government shutdown present opportunities for banks to help customers when they need it most.

The agency recently proposed gutting the ability-to-pay standard in its small-dollar loan rule, a move that would benefit the payday loan industry and harm consumers.

The agency recently proposed gutting the ability-to-pay standard in its small-dollar loan rule, a move that would benefit the payday loan industry and harm consumers.

The agency’s proposed changes to its standard for small-dollar loans will help ensure underbanked consumers still have access to credit. Concerns about predatory lending are overstated.

The agency has required restitution in just one of six settlements under its new director, raising questions about whether the pattern will continue.

The agency’s proposed changes to its standard for small-dollar loans will help ensure underbanked consumers still have access to credit. Concerns about predatory lending are overstated.

Regulators should clarify rules around deposit-advance products so that banks can serve consumers seeking short-term loans, like those affected by the recent partial closing of the government.

The installment lender, which bills itself as an alternative to payday lenders, targets underserved communities and operates through a network of retail partners.

Regulators should clarify rules around deposit-advance products so that banks can serve consumers seeking short-term loans, like those affected by the recent partial closing of the government.

In a major victory for small-dollar lenders, the agency plans to rescind underwriting requirements that were the centerpiece of the rule drafted by a Democratic appointee.

In a major victory for small-dollar lenders, the agency plans to rescind underwriting requirements that were the centerpiece of the rule drafted by a Democratic appointee.

The agency is exploring how to reopen small-dollar lending options for banks, but consumer groups are urging it to maintain pricing limits and other controls.