Small Dollar Credit

Comment Letter: Small-Dollar Lending

The Center for Financial Services Innovation responds to the FDIC’s Request for Information on Small-Dollar Lending based on our research into the consumer behaviors, products, and providers that comprise the market for small-dollar credit.

The Financial Health Network Comment Letter to the CFPB’s Request for Information Regarding Use of Alternative Data and Modeling Techniques in the Credit Process

The Financial Health Network submitted its response to the CFPB’s request for information regarding use of alternative data and modeling techniques in the credit process on February 16, 2017. In the letter, the Financial Health Network acknowledges that the use of alternative data in the credit process poses both risks and benefits to consumers. The letter also states the Financial Health Network’s belief that consumers will be better able to achieve financial health if they have access to innovative credit products that are safe, affordable, and of high quality, enabling them to manage their day-to-day finances, weather financial shocks, and pursue longterm opportunities.