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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

Going Postal? Cato Institute on Post-Office Banking

November 30th, 2020|Comments Off on Going Postal? Cato Institute on Post-Office Banking

A fascinating blog post by Diego Zuluaga at the Cato Institute, discusses what the writer calls the recent “surprising rehabilitation” of Post Office banking - the idea that the United States Postal Service (USPS) [...]

Bank of America’s Payday Loan and APR Cap Inadequacy

November 23rd, 2020|Comments Off on Bank of America’s Payday Loan and APR Cap Inadequacy

We have written before about the periodic announcements by banks that they are now offering a small dollar loan product. We read of the latest in the Charlotte Observer, which ran a story about [...]

Guest Post: The Importance of Financial Literacy

October 27th, 2020|Comments Off on Guest Post: The Importance of Financial Literacy

By Olivia DiBiase Personal financial literacy is critical to succeed in today’s world, but study after study shows that many Americans are in need of a deeper understanding of core financial concepts. While there is an abundance of [...]

Everything you need to know about traditional #installmentloans in NILA's FAQs:

https://t.co/Sgz8Kl5iAh

New Blog Post: Going Postal? Cato Institute on Post Office Banking #underbanked
https://t.co/qjX3Rd5bcN

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