Summary: | The FDIC has issued the attached report to summarize the final results of the FDIC's Small Dollar Loan Pilot Program, and outline lessons learned and potential strategies for expanding the availability of affordable small-dollar loans. The pilot was a two-year case study designed to illustrate the feasibility of banks offering alternatives to high-cost credit products, such as payday loans and fee-based overdraft programs. The pilot, which was completed in the fourth quarter of 2009, resulted in the creation of a template for safe, affordable and feasible small-dollar loans. |
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Distribution: Suggested Routing: Note: |
Additional Related Topics:
- Lending
- Consumer Laws
FIL-31-2010