The small-dollar lending industry is highly regulated at the state level in all states that allow small-dollar loans. Regulations have been carefully studied and enacted at the state level where they have largely been able to strike a successful balance between access to credit and consumer protection, while also considering local or regional concerns. State-level regulators understand their residents best and are therefore most capable of addressing the financial needs of customers in these states. One-size-fits-all federal regulations sometimes overlook the nuances of communities that local and state officials are better able to gauge due to their closer and stronger relationships.
July 10, 2018 | Access to Credit
Best Practices Broaden Scope Covering All Small-Dollar Loans, Further Enhance Consumer Protections and Address Evolving Credit Needs of American Consumers ...
July 17, 2017 | Access to Credit
Washington, D.C. – New survey research released today by premier polling firms Global Strategy Group (D) and the Tarrance Group (R) ...
May 30, 2017 | Consumer Credit Wire
In a recent ReasonTV video interview, University of Pennsylvania professor Lisa Servon told the story of her experiences working in several positions at nonbank financial services firms, including at a small-dollar lender, to explore the reality of living paycheck to paycheck – a reality that over 75 percent of Americans face. ...