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“Personal installment loans are often a critical lifeline for borrowers with limited credit options, allowing them to pay for unexpected expenses or to consolidate debts.”

- Assistant Attorney General Bill Baer, Justice Department Antitrust Division (2015)

“In both rich and poor countries alike, credit institutions have favored the rich and in so doing, have pronounced a death sentence on the poor… "

- Muhammad Yunus, Banker to the Poor (1999)

“We recognize the need for emergency credit. At the same time, it is important that these products actually help consumers, rather than harm them.”

-Richard Cordray, CFPB, Birmingham, AL (Jan 2013)

“Payday borrowers strongly support requiring the loans to have affordable installment payments.”

- Pew Charitable Trusts

The BCFP/CFPB and Installment Lending

September 21st, 2018|Comments Off on The BCFP/CFPB and Installment Lending

PART 2: INVESTIGATIONS AND THE “PAYDAY RULE”  Soon after the CFPB was established, its examination of areas it considered sources of concern in financial services resulted in official investigations, with some sources claiming that [...]

Operation Choke Point

September 5th, 2018|Comments Off on Operation Choke Point

The now notorious Justice Department initiative known as Operation Choke Point, began in 2013, reportedly after a long and involved meeting at the White House. It is seen by many as an attempt by [...]

New Installment Lending Frequently Asked Questions!

July 26th, 2018|Comments Off on New Installment Lending Frequently Asked Questions!

We recently developed some Frequently Asked Questions for use in furthering our mission of improving understanding of the nature and value of traditional installment loans. You will see a new  button on the homepage, [...]

We love celebrating our employees!! Thank you to Kathryn for 15 years and Vicki for 20 years of service at 1st Franklin Financial. #FriendlyFranklinFolks

In this article, Theresa Schmall addresses the opportunity for insurance providers to embrace innovative technology that benefits both businesses and customers alike. Read the article:

Virginia #specialsession on redistricting to resume next week. https://t.co/WXLqzqn84U

Part 2 of our series on the BCFP/CFPB and Installment Lending https://t.co/jfxyAMivu7 #cfpb #cordray #lending #financialservices

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