Small-dollar lending

Connecticut bank halts small-dollar loan program due to high demand

04/03/20

The $5.9 billion-asset Liberty Bank in Middletown had set aside $5 million to make small-dollar loans to customers affected by the coronavirus pandemic.

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Is now the right time for banks to resume small-dollar lending?

04/02/20

Regulators point to traditional financial institutions as well-positioned to meet short-term credit needs during the coronavirus pandemic, but there are still a host of questions about whether the industry should try to compete with high-cost lenders.

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Corbat urges caution; Goldman donates masks

03/27/20

Citigroup CEO says it’s a “fine line” between supporting customers and burdening them with debt; Goldman gives away 600,000 N95 masks it had from prior scares.

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Regulators back small-dollar loans to help consumers in crisis

03/26/20

The joint statement said examiners will not impede banks’ responsible efforts to offer open lines of credit, closed-installment loans or other products to borrowers dealing with fallout from the pandemic.

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Demand for small-dollar loans is likely to spike. Will banks be ready?

03/13/20

Banks typically don't offer loans to cash-strapped consumers, and are poorly positioned to start doing so on an emergency basis — unless the government steps in to help.

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When’s the last time a lawmaker needed a small-dollar loan?

03/09/20

Maybe Congress shouldn’t be so quick to change laws without real-world input.

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Dear Congress: Do away with the rent-a-bank ruse

02/10/20

Payday lenders have long used bank partnerships and similar means to circumvent state interest rate caps. Lawmakers should stop such practices now.

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Far from cheering CRA reform, CDFIs are worried

01/23/20

Community development financial institutions could stand to gain from efforts to modernize the Community Reinvestment Act, but they fear the proposal offered by regulators may end up draining their capital.

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Senate Dems urge CFPB watchdog to investigate restitution practices

01/14/20

In a letter to the agency's inspector general, the 15 lawmakers pointed to specific cases where they said the bureau departed from legal standards in deciding not to require restitution.

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House Democrats spar over rate cap bill

12/06/19

Moderates on the Financial Services Committee are attempting to block legislation that would extend the 36% interest rate cap on loans to military personnel to all consumers.

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