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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

NILA Applauds House Adoption of H.RES 327

May 16th, 2019|Comments Off on NILA Applauds House Adoption of H.RES 327

The end of last month (April) saw the introduction in the US House of Representatives of a Resolution encouraging greater public-private sector collaboration to promote financial literacy for students and young adults. H.Res 327 [...]

US House Hearing on Small Dollar Credit Industry

May 7th, 2019|Comments Off on US House Hearing on Small Dollar Credit Industry

Last Tuesday (April 30), the House Financial Services’ Subcommittee on Consumer Protection and Financial Institutions convened a hearing entitled, “Ending Debt Traps in the Payday and Small Dollar Credit Industry.” The meeting focused on payday [...]

moneySKILL Update!

April 29th, 2019|Comments Off on moneySKILL Update!

As we near the end of Financial Capability Month, we've checked in with our colleagues at the AFSA Education Foundation (AFSAEF) for an update on the moneySKILL program that we previously visited last April. [...]

In their efforts to regain trust and engage with customers after the 2008 crisis, financial institutions are launching new initiatives focused on financial health and wellness. Read about our new report in partnership with @FlourishVC about executives' commitment to #FinHealth.

Calling @NILA_ONLINE members! Annual Meeting Scheduled for September 10th – 12th at The W Hotel in Washington, DC. Paste it into your hat!

Traditional Financial Institutions Embrace #Fintech Disruption
@MarketWatch
https://t.co/CjNftPUi7s

Learn how #installmentloans can be a policy solution for lawmakers who want to balance consumer protections with wide access to credit
https://t.co/Bmg99txgzZ

Our comments on the recent US House hearings on #smalldollarcredit https://t.co/RrIi28Lp8K
#financialcapability #financialInclusion #installmentloanswork

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