Small-dollar lending

Where customers are also lenders: One fintech's payday alternative


To generate revenue, SoLo Funds depends on consumers willing to front funds through its platform.


OCC and FDIC chiefs signal progress on CRA reform


In successive speeches, Joseph Otting and Jelena McWilliams expressed hope for a Community Reinvestment Act rule by early next year, and also said regulators should align their small-dollar lending policies.


California lawmaker considers statewide CFPB


Assemblywoman Monique Limon is in the “early stages” of exploring how to create a state-level Consumer Financial Protection Bureau as part of a broader push for more consumer protection for state residents.


Payday lenders get unexpected reprieve from CFPB rule


The bureau had already proposed removing the underwriting portion of the rule, but a judge in Texas has indefinitely delayed the other key component as well.


Bank deposit advances are payday loans in disguise


Recent history shows how dangerous these short-term products can be without appropriate guidelines in place.


CFPB’s payday rule rollback sows confusion


The industry cheered the bureau’s proposed repeal of its ability-to-repay requirement, but another part of the rule — on account debit restrictions — was left intact, and some companies aren’t ready to comply.


Customer engagement is really about solving problems


Events like the recent government shutdown present opportunities for banks to help customers when they need it most.


CFPB reversal on payday lending is a big mistake


The agency recently proposed gutting the ability-to-pay standard in its small-dollar loan rule, a move that would benefit the payday loan industry and harm consumers.


Why Kraninger's CFPB is mandating fewer consumer refunds


The agency has required restitution in just one of six settlements under its new director, raising questions about whether the pattern will continue.


Critics of CFPB’s revised payday rule miss the mark


The agency’s proposed changes to its standard for small-dollar loans will help ensure underbanked consumers still have access to credit. Concerns about predatory lending are overstated.