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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

Straight Talk from an Installment Lender (Part 2)

July 17th, 2018|0 Comments

In this four-part series, Andrew Morrison, a NILA member from Sun Loan Company, deliberates on wrong-footed policymaking, unintended consequences and the importance of safe, affordable small-dollar credit….. PART 2: IT’S STRUCTURE THAT MATTERS, NOT [...]

The BCFP/CFPB and Installment Lending

July 11th, 2018|Comments Off on The BCFP/CFPB and Installment Lending

PART 1: ESTABLISHING THE CFPB  The establishment of the Consumer Financial Protection Bureau (CFPB) in 2010 meant that traditional installment lenders, among other groups, had to rapidly raise their game in terms of interaction [...]

Straight Talk from an Installment Lender (Part 1)

June 4th, 2018|Comments Off on Straight Talk from an Installment Lender (Part 1)

In this four-part series, Andrew Morrison, a NILA member from Sun Loan Company, deliberates on wrong-footed policymaking, unintended consequences and the importance of safe, affordable small-dollar credit….. PART 1: RATES AND RATE CAPS ARE [...]

Massachusetts stands alone as the only state without a #budget for 2019, negotiations ongoing. https://t.co/n5BEkGtKTy #mapoli #statebudget

Congrats to the 2018 winners of @CFSInnovation and @jpmorgan @Chase's FinLab. We love the fact that CFSI strongly encouraged applicants to support diversity in solutions, customer focus, and founding teams. https://t.co/Kwoy1kmMlb #TechTuesday #AccessibleTechTuesday

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