Small Dollar Lending

Providing financial services to those whose needs require special treatment, either because of the dollar amount of credit sought or other credit-related problems, has been a long-standing concern of CBA and its membership. Categories of those requiring such special treatment include low-income individuals and families, as well as military personnel and others who may be in temporary financial distress. CBA's Government Relations team has worked with financial regulators, the Department of Defense and the U.S. Congress to develop innovative financial products to serve the needs of those requiring special attention based upon their financial situation.
  • April 3, 2015
    CBA Comments on Prepaid Proposed Rule On Friday, March 20, 2015, CBA and the Financial Services Roundtable submitted a comment letter to the CFPB regarding proposed rulemaking on prepaid products. The groups stressed the importance of avoiding regulation that increases costs and decreases availability because such impacts are likely to be felt most acutely by consumers who are least able to...
  • March 20, 2015
    CBA LIVE 2015: The Consumer Agenda – It's Here! T-minus 3 days before you learn all things consumer — their thoughts, their goals, their attitudes, and what speaks to their souls. Sunny Florida awaits the arrival of the largest gathering of retail banking executives this year. CBA LIVE 2015 marks our fifth straight year of record attendance with nearly 1,300 registrants (and counting), 579 of...
  • March 13, 2015
    CFPB Holds Field Hearing on Arbitration On Tuesday, March 10, 2015, the CFPB held a public field hearing in Newark, N.J., to discuss the use of arbitration agreements in consumer financial products and services; Dong Hong, CBA's Vice President and Regulatory Counsel, served as a panelist at the hearing. In conjunction with the field hearing, the CFPB issued its report on mandatory pre-dispute...
  • March 13, 2015
    CBA LIVE Sets New Attendance Record If you are looking to join with retail banking's decision makers and better understand the mind of the consumer, there is no better place than CBA LIVE, now just 10 days away. On Thursday, we surpassed our all-time record with the registration of the 1,212th attendee. Combined with our record number of bankers (575), these registration numbers show CBA LIVE is...
  • February 27, 2015
    Regulators Release Guidance to Encourage Youth Savings Programs On Wednesday, February 25, 2015, the Financial Literacy Education Commission ( FLEC ) held a public meeting at the U.S. Department of Treasury in Washington, D.C., which focused on youth savings programs, and highlighted partnerships between the public and private sector to encourage strong financial skills in young people. The...
  • February 5, 2015
    New York’s top financial regulator is urging federal officials working on rules for the payday loan industry to make clear that all U.S. short-term lenders are required to abide by state-imposed limits on interest rates. New York Department of Financial Services Superintendent Benjamin Lawsky, in a letter reviewed by the Wall Street Journal, urged the Consumer Financial Protection Bureau to enact...
  • December 5, 2014
    RATS!!! CBA and AOL Finance Optimism Index Falls 9.4 Points in October The CBA/AOL monthly Finance Optimism Index dropped to -5.3 points in October, erasing gains from September, which saw the Index's highest point to date. Americans' level of optimism declined across all four questions of the Index. The percentage of respondents strongly agreeing they were worried about their current financial...
  • October 3, 2014
    CFPB Issues Report on Loans for Manufactured Housing On Tuesday, September 30, 2014, the CFPB issued a report on the manufactured housing market, owner demographic, and loan terms. The Bureau found the median age of manufactured-home owners to be 53, with most living in rural areas and possessing a low net worth. Borrowers of manufactured home loans pay a higher interest rate than borrowers whose...
  • September 5, 2014
    Possible Home Depot Breach Bigger than Target? The end of the Labor Day holiday came with some unsettling news – a possible massive breach of consumer data at retailer Home Depot. According to KrebsonSecurity, the breach may have impacted data from all 2,200 stores across the U.S. We all recall the breach at Target earlier this year, which resulted in the compromising of 40 million payment card...
  • June 20, 2014
    Whistleblower Sheds Light on CFPB Issues On Wednesday June 18, 2014, the House Financial Services Subcommittee on Oversight and Investigations held a hearing entitled: “Allegations of Discrimination and Retaliation within the Consumer Financial Protection Bureau, Part Three.” While this hearing mainly focused on whistleblowers’ allegations of employment discrimination at the CFPB, testimony by Mr...

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