A story that is recent United states Banker stated that at least three banking institutions are intending to launch new small-dollar loans services and products following the customer Financial Protection Bureau’s payday lending guideline becomes effective. This article states that banking institutions are interested in a feasible cfpb exemption from underwriting needs for loans fulfilling certain faculties. Here is why i am dubious concerning this development.
The re-entry of banking institutions in to the small-dollar, short-term credit market could be a win for customers’ option. (more…)