Customer Finance Track

Customer Finance Track

CFPB, Federal Agencies, State Agencies, and Attorneys General

OCC small-dollar financing bulletin: one advance but one action straight straight back?

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

The OCC claimed so it “encourages banking institutions to supply responsible short-term, small-dollar installment loans, typically two to year in length with equal amortizing repayments, to greatly help meet with the credit requirements of consumers. Continue reading Customer Finance Track