Industry News

OppLoans Industry News

Current news and happenings that affect millions of credit challenged consumers. OppLoans is here to help our customers build a better financial path.

72 Percent of Credit-Challenged Americans Set Back by COVID-19

A recent study by OppLoans examined the financial plight of Americans with self-reported credit problems since COVID-19 entered the picture and the results were alarming.

Inside Sources →

Published on: August 21, 2020


The Cost Structure of Consumer Finance Companies and Its Implications for Interest Rates:

Evidence from the Federal Reserve Board’s 2015 Survey of Finance Companies, Accessible Data

The Federal Reserve →

Published on: August 12, 2020


FDIC looks to make it easier for banks to partner with fintech

The Federal Deposit Insurance Corp. hopes a new process will make it easier for community banks to partner with technology companies.

S&P Global Market Intelligence →

Published on: July 20, 2020


Payday, Vehicle Title, and Certain High-Cost Installment Loans—Revocation Rule

The Bureau of Consumer Financial Protection is issuing this final rule to amend its regulations governing payday, vehicle title, and certain high-cost installment loans.

Consumer Financial Protection Bureau →

Published on: July 07, 2020


Small-Dollar Lending: Interagency Lending Principles for Offering Responsible Small-Dollar Loans

The Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the National Credit Union Administration (collectively, the agencies) today issued the “Interagency Lending Principles for Offering Responsible Small-Dollar Loans.”

Office of the Comptroller of the Currency →

Published on: May 20, 2020


Small-Dollar Lending: Joint Statement Encouraging Responsible Small-Dollar Lending in Response to COVID-19

The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System, Consumer Financial Protection Bureau, Federal Deposit Insurance Corporation, and National Credit Union Administration (collectively, the agencies) today issued the “Joint Statement Encouraging Responsible Small-Dollar Lending in Response to COVID-19.”

Office of the Comptroller of the Currency →

Published on: March 26, 2020


41% of Americans would be able to cover a $1,000 emergency with savings

Almost half of Americans can handle a $1,000 emergency, such as a medical bill or car repair, by dipping into savings.

CNBC →

Published on: January 22, 2020


Banks That Shun Risky Borrowers Offer Rosy View of U.S. Consumer

With most U.S. households spending more and paying their bills on time, their creditors are feeling more confident than ever. To hear the CEOs of the nation’s largest banks tell it this week, rarely has the American consumer been in better shape.

Bloomberg →

Published on: January 17, 2020


Lower-Income Households Shift Away From Payday Loans

Installment loans and online small-business lending are quickly replacing payday loans as sources of credit for lower-income households, driven by regulatory changes and innovations in financial technology, according to a new study.

The Wall Street Journal →

Published on: December 31, 2019


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