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FDIC News: FDIC Requests Information on Small-Dollar Lending

FDIC News: FDIC Requests Information on Small-Dollar Lending

WASHINGTON – The Federal Deposit Insurance Corporation (FDIC) today announced that it is seeking public comment on issues related to small-dollar lending by FDIC-supervised financial institutions.

The Request for Information (RFI) solicits comments on the consumer demand for small-dollar credit products, the supply of small-dollar credit products currently offered by banks, and what the FDIC can do to better enable banks to offer responsible, prudently underwritten credit products to meet consumer demand.

“While it would be optimal if all Americans could meet their financial needs without the need to borrow money or sell something,” said Chairman McWilliams, “studies have shown that unfortunately that is not the reality for many Americans. 

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