Deposit advances

California may point the way forward on payroll advances


A proposal to define wages-on-demand would protect consumers and serve as an example for others.


Agencies closer to joint polices on CRA, small-dollar loans: FDIC head


Jelena McWilliams said federal bank regulators could begin "within a week or so" to discuss a draft proposal for reforming the Community Reinvestment Act.


U.S. Bank returns to small-dollar lending. Will others follow?


The nation's fifth-largest bank on Monday rolled out a three-month consumer loan that is far less expensive than the typical payday loan. The move comes as regulators are encouraging banks to reach out to the subprime market, which they largely abandoned.


Banks + small-dollar credit doesn't add up


Despite recent encouragement from the OCC, banks still struggle to make a profit on short-term loans.


OCC gives banks green light to compete with payday lenders


The agency's bulletin opens the door to banks' making more short-term loans to borrowers with lower credit scores — with few parameters beyond "sound underwriting."


House GOP wants small-dollar loan bill pinned to reg relief


Just as promised, Republican lawmakers went to work Wednesday considering regulatory reform ideas that would go further than the Senate's tweaks of the Dodd-Frank Act.


The key policy questions facing Trump's FDIC pick


The nomination of Jelena McWilliams to chair the Federal Deposit Insurance Corp. moves the Trump administration one step closer to completing its team of regulatory appointments in its push to undo former President Obama's post-crisis policies.


Large banks uncertain of path forward on small-dollar loans


Fifth Third, U.S. Bancorp and others aim to design a short-term credit product that would satisfy their various regulators, but exactly how and how quickly they should go about it is murky at this point.


U.S. Bancorp mulls return to deposit advance after OCC gives green light


The Minneapolis company is considering re-entering a business it exited under pressure from its regulator in 2014.


As CFPB closes door on payday, OCC opens one for deposit advance


The world of short-term lending was shaken up Thursday as one regulator issued a rule cracking down on payday loans while another made it easier for banks to offer an alternative product.