Customer Finance Track

Customer Finance Track CFPB, Federal Agencies, State Agencies, and Attorneys General OCC small-dollar financing bulletin: one step of progress but one step right straight right back? The OCC has granted a bulletin (2018-14) setting forth fundamental financing axioms and policies and methods for short-term, small-dollar installment financing by nationwide banking institutions, federal cost savings banks, and federal branches and agencies of international banking institutions. The OCC reported it “encourages banking institutions to provide accountable short-term, small-dollar installment loans, typically two to one year in period with equal amortizing repayments, to assist meet up with the credit needs of customers.

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