Payday lending

Effort to coax banks back into small-dollar lending likely to fall short

05/29/18

An OCC initiative to get more banks to make short-term loans that rival those of payday lenders isn't enough of an enticement.

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Reg relief, ADA bank threat, Wells millennial app: Top stories of the week

05/25/18

Comprehensive analysis of the banking industry's first big legislative victory since the crisis; lawsuits target banks with websites in violation of the Americans with Disabilities Act; what a homegrown app for millennials has to teach Wells Fargo; and more from this week's most-read stories.

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Why it's so hard to sell banks on small-dollar lending

05/24/18

While industry officials welcomed a bulletin from the Office of the Comptroller of the Currency encouraging banks to develop alternatives to payday loans, they are making no commitments to offer such products.

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OCC urges small-ticket lending; Deutsche to downsize

05/24/18

Otting wants banks to make small loans to consumers; the German bank will reduce headcount by at least 7,000.

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OCC gives banks green light to compete with payday lenders

05/23/18

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."

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BofA’s AI play, Zelle departure, more guidance (please): Top stories of the week

05/18/18

Bank of America on where its AI hopes (and worries) lay; Zelle founder Paul Finch announces his leave from the payments network; the one area where banks and fintechs want more regulation; and more from this week's most-read stories.

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Return to sender: Here's what's wrong with postal banking

05/17/18

A bill to allow the USPS to offer financial products would be bad for consumers, taxpayers and the banking industry.

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The real fight over CFPB's payday rule is just beginning

05/16/18

It's too late for Congress to overturn the consumer bureau's regulation on short-term lending, but acting Director Mick Mulvaney will have plenty of chances to reshape it.

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From overdraft to HMDA, rulemaking has new look at Mulvaney’s CFPB

05/16/18

Acting CFPB Director Mick Mulvaney has dropped agency plans to crack down on overdraft programs and large marketplace lenders. Here's what else he's changing.

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Eric Schneiderman’s many tangles with financial firms

05/08/18

Outgoing N.Y. Attorney General Eric Schneiderman has been a thorn in the side of financial institutions, using his state’s significant clout to affect national policy debate on a host of topics ranging from dark pools to cryptocurrencies. Here’s a look back at how Schneiderman has made his mark on the ways financial institutions do business.

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