New federal legislation introduced in the House and Senate would place a 36% annual percentage rate cap on nearly all consumer loans, potentially killing the small dollar consumer lending industry.
Last month, Congressmen...more
12/20/2019
/ Consumer Financial Products ,
Consumer Lenders ,
Consumer Loan Companies ,
Interest Rate Caps ,
Interest Rates ,
Military Lending Act ,
Military Service Members ,
Predatory Lending ,
Proposed Legislation ,
Truth in Lending Act (TILA) ,
Usury
The Office of the Comptroller of the Currency announced, in a highly anticipated decision, that it would begin to consider special-purpose charter applications from fintech entities. This move, which has been the subject of...more