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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

USPS and Small Dollar Loans?

July 15th, 2019|Comments Off on USPS and Small Dollar Loans?

Another aspect of the Senator Sanders/Representative Ocasio-Cortez Bill (see recent post) that rings alarm bells for all those interested in sound public policy, is its inclusion of yet another plan to move the U.S. Postal [...]

More on APR Caps as Bad Public Policy

June 26th, 2019|Comments Off on More on APR Caps as Bad Public Policy

Following up from our recent post on APR caps, showcasing the American Financial Services Association’s position on caps as a tool for regulating small-dollar loans, we have another article on the subject in The [...]

Himpler: Rate Caps Would Create Adverse Unintended Consequences

June 6th, 2019|Comments Off on Himpler: Rate Caps Would Create Adverse Unintended Consequences

A recent opinion piece by Bill Himpler, President of the American Financial Services Association (AFSA), make some very good points about the nature of interest caps on small-dollar loans and the unintended consequences when [...]

Here are just a few reasons why traditional loans AKA installment loans work! https://t.co/RCSyL5hMbr

Learn more about traditional installment loans - a safe form of non-bank credit - https://t.co/Bmg99txgzZ

Regarding Robobcalls, "AFSA supports policies that aim to hinder a group of bad actors that makes it difficult for real customer contact to take place,” - President & CEO Bill Himpler. https://t.co/Q9GK4zMEVF

We have published our white paper for July! This month's white paper covers consumer complaints from 2017 - present. #stateags
https://t.co/h5rH289rZH
(AFSA login required)

More on #APR Caps #regulation https://t.co/41iP5ZnhZC

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