Bank Accounts: Lenders, Check Cashers

By | Feb 3, 2016

Bank Accounts for Payday Loan, Installment Loans, Small Dollar Loans, Consumers… The CFPB issued a “policy directive” suggesting banks and credit unions do more for consumers lacking bank accounts. This is a laudatory action. Those of us offering payday loans, installment loans, car title loans, line-of-credit, check cashing… know well how difficult this negative situation […]

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Bank Accounts for Payday Loan, Check Cashers and MSB Lenders

By | Jan 28, 2015

Great news today for consumers and small dollar lenders regarding bank accounts: Financial Institution Letter FIL-5-2015 January 28, 2015 Statement on Providing Banking Services The FDIC encourages insured depository institutions to serve their communities and recognizes the importance of the services they provide. Individual customers within broader customer categories present varying degrees of risk. Accordingly, […]

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