Small-dollar lending

States still call the shots on subprime lending

07/24/18

The creation of the Consumer Financial Protection Bureau was widely expected to centralize regulation of payday and other high-cost loans in Washington. It hasn’t worked out that way.

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CFPB fines Alabama lender but suspends most of penalty

07/19/18

The bureau determined that Triton Management Group had unfairly charged Mississippi consumers excess interest in violation of state law.

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CFPB taps Arizona official to lead innovation office

07/18/18

Paul Watkins served as chief counsel for the Arizona AG's 150-person civil litigation division and also headed up the office's fintech initiatives.

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Ohio poised to tighten rules on high-cost consumer lending

07/10/18

Republican lawmakers and consumer groups have reached an agreement on legislation designed to close a loophole in the state's interest rate cap.

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How to build a more equal bank

07/03/18

A decades-old Fed charter could help banks develop new cooperatives to combat economic inequality.

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Pressure mounts on FDIC, Fed to follow OCC’s small-dollar lead

07/02/18

The Office of the Comptroller of the Currency’s bulletin is seen as just one piece of the regulatory puzzle to coax banks into installment lending.

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Payday lending in Calif. shrunk by almost 7% last year

06/22/18

The trend may be partially attributable to a strong economy. Growth in high-cost installment lending could also be a factor.

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Mobile app for underbanked looks to go national

06/22/18

Fair Financial, a digital banking platform developed by a Twin Cities nonprofit in partnership with a local bank, launched a pilot program this week. By 2020, it plans to serve 5,000 customers across the country.

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Banks + small-dollar credit doesn't add up

06/11/18

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

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A return to bank-payday lender partnerships? Not on Otting’s watch

05/29/18

Just two months ago, Comptroller Joseph Otting seemed to signal that the OCC might be open to letting national banks rent their charters to payday lenders. Now he is clarifying that it won’t happen.

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