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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 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 [...]

NOBEL/Women Resolution Identifies Role for Banks in Underserved Communities

May 22nd, 2018|0 Comments

In January, we posted a piece highlighting a resolution passed by NOBEL/Women, supporting traditional installment loans. A second resolution has also passed, this time focused onMAKING MAINSTREAM LENDING AVAILABLE AND ACCESSIBLE IN UNDERSERVED COMMUNITIES. This [...]

Banks to Enter Small-Dollar Loan Market? Again!

May 3rd, 2018|Comments Off on Banks to Enter Small-Dollar Loan Market? Again!

A recent piece in American Banker by the head of the Consumer Bankers Association (CBA) calls on federal regulators to take action that would allow banks to make small-dollar loans. The article points out recent steps [...]

More than 50 Tell the #BCFP What They Think of the Rulemaking Process https://t.co/vg8zqGXcSV via @insidearm #CFPB

Five ways Mulvaney is cracking down on his own agency https://t.co/t3lcQVtcST #cfpb #bcfp

Banks #small-dollar credit doesn't add up https://t.co/kHEFYSBQm9 #banks #lending #financialservices

Unique insights --- Straight Talk from an Installment Lender (Part 1) https://t.co/Ph7gMINMJx #lending #financialregulation #installmentloanswork

Mulvaney's CFPB swings back at ousted consumer advisory board members, says they just wanted "taxpayer funded junkets to Washington, DC and being wined and dined by the Bureau."

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