consumer-finance

While deposit-driven financial institutions, at best, could use small-dollar loans to bring in customers who would later purchase other products, installment lenders have been successfully serving underserved communities for close to 100 years.

Underserved consumers need access to high-quality small loans from financial institutions that are based on sound underwriting and include tools for budgeting and saving.

Increasingly burdensome requirements, such as small business panels and cost-benefit analysis, inhibit writing of new regulations. But substituting enforcement actions that unevenly apply vague or unwritten rules betrays the regulatory mandate.

Few things cut through the skepticism many folks hold toward a business (or even industry) as much as genuine, altruistic actions.

Offer each retail customer the best terms for which he qualifies - and not just for mortgages. Don't count on a second chance to bargain or risk the legal and reputational consequences of offering less than your best.