Prudential regulators outline axioms on small-dollar financing

Prudential regulators outline axioms on small-dollar financing May 20, the FDIC, Federal Reserve Board, OCC, and NCUA issued joint concepts for providing accountable loans that are small-dollar. The agencies note the “important part” that small-dollar financing can play during times during the financial anxiety, like the Covid-19 pandemic, and issued the guidance to encourage supervised…

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