Regulator urges banks to compete with payday lenders

Source: Stacy Cowley & Emily Flitter, N.Y.Times

A federal regulator encouraged banks to offer small, short-term loans to people in need of emergency cash.  The Office of the Comptroller of the Currency, which regulates national banks, said it will start allowing banks to make small loans — typically in the range of $300 to $5,000 — outside of their standard underwriting processes.

Read Full Article: Regulator urges banks to compete with payday lenders

 

Tags/Keywords

 

Search

Quick Menu

Facebook FTwitter T
 

Consumer Help Desk

Advocacy