Payday Loans, Government Subsidies and the FDIC’s Small-Dollar Loan Pilot Program

By | Jul 15, 2009

Only a few participating banks have indicated that short-term
profitability is the primary goal for their small-dollar loan
programs. Rather, most pilot banks are using the small-dollar loan
product as a cornerstone for long-term relationship-building that
also creates good-will in the community. Moreover, a few banks’
business models focus exclusively on building goodwill and generating
an opportunity for positive Community Reinvestment Act (CRA)
consideration.

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