Small Dollar Lending News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Welcome to the Payday and Small-Dollar Lending chapter of our annual report Consumer Financial Services 2023 Year in Review. Looking Ahead to 2024 - ...

In February, FINRA provided an update (Update) concerning the targeted exam (Sweep) launched in September 2021 to review firms' practices concerning customer acquisition through social media channels and the way firms share customer usage information with affiliates and non-affiliated third parties.

The state of Connecticut recently handed the small-dollar marketplace loan provider a cease-and-desist order, but Rodney Williams says his company is getting much-needed emergency funds into marginalized communities at a low total cost, and that the rules need to be rewritten.

To embed, copy and paste the code into your website or blog: With the change of administration in Washington, the Consumer Financial Protection Bureau (the “CFPB” or “Bureau”) is widely expected to assume a posture of aggressive enforcement of consumer protection laws. One area that we anticipate will receive heightened scrutiny is payday lending, a form of lending that typically involves small, short-term loans at high interest rates. Under new leadership, the CFPB may seek to require that payday lenders assess a borrower’s ability to pay. And even absent such a requirement, the CF...