American Banker: CFPB Payday Rule Addresses the Problems, Not the Solution
The CFPB’s proposal protects borrowers from unaffordable loans, cycles of reborrowing, and exorbitant fees—all positive steps in reducing consumer harm. But if the final rule doesn’t create a clear lane for good lenders to step in with a variety of new loan product designs, the CFPB risks leaving important consumer needs unfulfilled. Read the full […]
New Research Highlights Press Release: Consumer Preferences for Key Product Features
Chicago, IL – (June 3, 2014) – Today, the Financial Health Network announced the creation of the Small-Dollar Credit Test & Learn Working Group. Five leading financial services providers—Regions Bank, LexisNexis Risk Solutions, Kinecta Federal Credit Union, Enova International and Emerge Financial Wellness—are piloting small-dollar credit products or product features that put into practice many […]