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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

CEI to CFPB: No Rate Caps on Small Dollar Loans

February 5th, 2021|Comments Off on CEI to CFPB: No Rate Caps on Small Dollar Loans

A recent blog post by Iain Murray at the Competitive Enterprise Institute acknowledges rising concerns that the new leadership at the Consumer Financial Protection Bureau (CFPB) might renew attempts to impose a price cap [...]

The Facts about APR Caps (aprfacts.org)

January 20th, 2021|Comments Off on The Facts about APR Caps (aprfacts.org)

One of the biggest challenges for traditional installment lenders in speaking to policymakers about industry regulation is explaining the nature of Annual Percentage Rates (APR). Price caps that use APR for measuring the supposed [...]

Study Review: Preserving and Expanding Consumer Access to Credit (Mercatus)

December 23rd, 2020|Comments Off on Study Review: Preserving and Expanding Consumer Access to Credit (Mercatus)

We have chosen to include 2016 testimony before the US House Committee on Financial Services in our series on influential or useful studies. This is because the source (the Mercatus Center at George Mason [...]

U.S. Consumer Confidence Index rose to 89.3 in January 2021 from 87.1 in December 2020. Read more on what drove this increase: https://t.co/d1zTmeI8C3

Associations urge Illinois governor to nix rate-cap measure
https://t.co/Ndjv4U3a78
@GovPritzker

AFSA's very own Danielle Fagre Arlowe testified on New Mexico HB 149 at a hearing in the House Commerce & Economic Development Committee. #lending

The New CFPB Leadership Should Avoid Rate Caps on Small Dollar Loans - Competitive Enterprise Institute https://t.co/dNkHVN1Te4

Why the Annual Percentage Rate is a Poor Tool for Measuring Short-Term Credit @CEI

https://t.co/xorusWXCaB

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