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Small Dollar Lending/Lenders

CFPB Releases Report on Single-Payment Vehicle Title Loans

CFPB  •  Debt Collection  •  Small Dollar Lending/Lenders  •  What You Need To Know - Background Info On Current Issues
Earlier this month, the Consumer Financial Protection Bureau (CFPB) issued a report analyzing consumer usage and default patterns for certain single-payment vehicle title loans (the “Report”).  Vehicle title loans are loans issued to borrowers by non-depository […]

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Treasury Department Weighs in on Online Marketplace Lending

Fair Lending / Fair Servicing  •  Online  •  Regulation  •  Small Dollar Lending/Lenders  •  What You Need To Know - Background Info On Current Issues
On May 10, 2016, the U.S. Treasury Department released a white paper entitled, “Opportunities and Challenges in Online Marketplace Lending.”  The white paper is the result of a request for information that elicited more than […]

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Money Remittance Improvement Act Eases Regulatory Requirements for MSBs

BSA  •  FinCEN  •  Money Transmission  •  Small Dollar Lending/Lenders  •  U.S. House  •  U.S. Senate
On August 1, Congress passed the Money Remittances Improvement Act of 2014 (signed by President Obama on August 8, 2014), which reduces regulatory hurdles and duplication between state and federal regulation of money services businesses.  Specifically, […]

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