The National Installment Lenders Association

“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

Illinois Letter Counters “Public Banks and Postal Service” Claims

March 30th, 2021|Comments Off on Illinois Letter Counters “Public Banks and Postal Service” Claims

A devastating new law that will destroy non-bank lending in Illinois recently received support in the form of an opinion piece in the Chicago Sun-Times. In it, the authors claim that public banks and [...]

Accelerating Bank Branch Closures Mean More Credit Deserts

March 22nd, 2021|Comments Off on Accelerating Bank Branch Closures Mean More Credit Deserts

US banks closed 148 branches, nationwide in February, according to a report from S&P Global. This continues a worrying trend that promises to increase the prevalence of “credit deserts”. These are geographies where widespread [...]

AFSA Highlights New Mexico SB 66 Anti-Consumer Bill

March 2nd, 2021|Comments Off on AFSA Highlights New Mexico SB 66 Anti-Consumer Bill

A post by our friends at the American Financial Services Association (AFSA), highlighted the deeply problematic nature of New Mexico’s Senate Bill 66, which will “force [lending] businesses to shutter and their consumers into [...]

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