Joseph Otting, Comptroller of the Currency, says that rules on short-term, small-dollar lending should be relaxed so U.S. banks are able to offer loans to cash-strapped consumers. According to Financial Times, strict underwriting rules and the negative publicity surrounding loans with such high annual interest...
The Consumer Financial Protection Bureau is gearing up to scale back its rule on payday lending, giving the industry a potential break from oversight. According to a report in the Wall Street Journal, citing industry lobbyists and consumer advocacy groups, the CFPB is moving to...
April 26, 2018
Joseph Otting, Comptroller of the Currency, says that rules on short-term, small-dollar lending should be relaxed so U.S. banks are able to offer loans to cash-strapped consumers. According to Financial Times, strict underwriting rules and the negative publicity surrounding loans with such high annual interest rates have caused banks to avoid providing these types of […]
August 28, 2017
The Consumer Financial Protection Bureau is gearing up to scale back its rule on payday lending, giving the industry a potential break from oversight. According to a report in the...
