OCC offers finance companies environmentally friendly light to compete with payday loan providers
The Office associated with Comptroller from the Currency was moving in the world of temporary financing by promoting finance companies to supply high-interest rate financing to subprime consumers instead of payday loan providers.
In a major split from earlier regulators, Comptroller Joseph Otting said Wednesday which he wants banks to originate financial payday loans mckinney tx loans of $300 to $5,000 to consumers with FICO scores of 680 or lower, with few different details beyond “sound underwriting.” The new OCC rules could opened a $90 […]
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