Customer Finance Track

Customer Finance Track

CFPB, Federal Agencies, State Agencies, and Attorneys General

OCC small-dollar financing bulletin: one step of progress but one action straight right back?

The OCC has given a bulletin (2018-14) establishing lending that is forth core and policies and methods for short-term, small-dollar installment financing by nationwide banking institutions, federal cost cost savings banking institutions, and federal branches and agencies of international banking institutions.

In issuing the bulletin, the OCC claimed so it “encourages banking institutions to supply accountable short-term, small-dollar installment loans, typically two to one year in timeframe with equal amortizing repayments, to aid meet up with the credit needs of consumers. Continue reading Customer Finance Track