Small Dollar Lending

Providing financial services to those whose needs require special treatment, either because of the dollar amount of credit sought or other credit-related problems, has been a long-standing concern of CBA and its membership. Categories of those requiring such special treatment include low-income individuals and families, as well as military personnel and others who may be in temporary financial distress. CBA's Government Relations team has worked with financial regulators, the Department of Defense and the U.S. Congress to develop innovative financial products to serve the needs of those requiring special attention based upon their financial situation.
  • June 2, 2016
    Lenders who offer payday loans and other small-dollar advances would have to assess whether borrowers could afford and repay the debts, according to a federal rule proposed Thursday. The long-awaited Consumer Financial Protection Bureau proposal would also cut off repeated debit attempts that hit overdue borrowers with additional fees and charges as lenders seek repayment. The regulator also...
  • June 2, 2016
    The federal government has proposed new rules aimed at protecting consumers from loan traps. The Consumer Financial Protection Bureau wants lenders to make sure borrowers can pay them back by conducting a "full-payment test" before loans are granted. The full-payment test would require lenders to calculate whether borrowers can afford to make repayments on time and still cover basic living...
  • June 2, 2016
    Lenders who offer payday loans and other small-dollar advances would have to assess whether borrowers could afford and repay the debts, according to a federal rule set to be proposed Thursday. The long-awaited Consumer Financial Protection Bureau proposal would also cut off repeated debit attempts that hit overdue borrowers with additional fees and charges as lenders seek repayment. The regulator...
  • June 2, 2016
    Lenders who offer payday loans and other small-dollar advances would have to assess whether borrowers could afford and repay the debts, according to a federal rule proposed Thursday. The long-awaited Consumer Financial Protection Bureau proposal would also cut off repeated debit attempts that hit overdue borrowers with additional fees and charges as lenders seek repayment. The regulator also...
  • June 2, 2016
    If your car required a $400 repair tomorrow, could you afford it? According to the Federal Reserve, for almost half of Americans the answer is unfortunately no. Millions of Americans live paycheck to paycheck and need help making ends meet. Yet regulators in Washington continue to chip away at products and services that provide short-term, small-dollar credit, thereby leaving consumers with very...
  • June 2, 2016
    Lenders who offer payday loans and other small-dollar advances would have to assess whether borrowers could afford and repay the debts, according to a federal rule proposed Thursday. The long-awaited Consumer Financial Protection Bureau proposal would also cut off repeated debit attempts that hit overdue borrowers with additional fees and charges as lenders seek repayment. The regulator also...
  • June 2, 2016
    Companies that profit from issuing high-interest loans to cash-strapped consumers are about to get a punch in the gut from a U.S. regulator. The Consumer Financial Protection Bureau will propose rules Thursday that restrict payday lenders from extending credit unless they can ensure customers are capable of repaying. The agency’s plan will also curtail fees charged by the industry that make it...
  • June 2, 2016
    Lenders who offer payday loans and other small-dollar advances would have to assess whether borrowers could afford and repay the debts, according to a federal rule proposed Thursday. The long-awaited Consumer Financial Protection Bureau proposal would also cut off repeated debit attempts that hit overdue borrowers with additional fees and charges as lenders seek repayment. The regulator also...
  • June 2, 2016
    Lenders who offer payday loans and other small-dollar advances would have to assess whether borrowers could afford and repay the debts, according to a federal rule proposed Thursday. The long-awaited Consumer Financial Protection Bureau proposal would also cut off repeated debit attempts that hit overdue borrowers with additional fees and charges as lenders seek repayment. The regulator also...
  • June 2, 2016
    Lenders who offer payday loans and other small-dollar advances would have to assess whether borrowers could afford and repay the debts, according to a federal rule proposed Thursday. The long-awaited Consumer Financial Protection Bureau proposal would also cut off repeated debit attempts that hit overdue borrowers with additional fees and charges as lenders seek repayment. The regulator also...

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