Evidence from the Federal Reserve Board’s 2015 Survey of Finance Companies, Accessible Data
The Federal Deposit Insurance Corp. hopes a new process will make it easier for community banks to partner with technology companies.
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.
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.”
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.”
Almost half of Americans can handle a $1,000 emergency, such as a medical bill or car repair, by dipping into savings.
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.
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.