Fdic Board Approves Small-Dollar Loan Pilot Project
Texas Banking › Vol. 96 Nbr. 7, July 2007
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Summary
The Board of Directors of the FDIC approved a two-year pilot project to review affordable and responsible small-dollar loan programs in financial institutions. The project, the Affordable and Responsible Consumer Credit initiative, is designed to assist bankers by identifying information on replicable business models for affordable small-dollar loans. Participating financial institutions in the study that offer these products in a safe and sound manner may receive favorable consideration under the Community Reinvestment Act.
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Extract
Fdic Board Approves Small-Dollar Loan Pilot Project
The Board of Directors of the FDIC approved a two-year pilot project to review affordabl...
See the full content of this document
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