Bank Regulators Should Not Facilitate Predatory Small Dollar Loans as Economy Tanks – Like Taking Away Umbrella as Rainstorm Begins
Instead, policymakers should incorporate as part of the stimulus package a federal rate cap and a ban on overdraft during crisis WASHINGTON, D.C. – As our nation tries to contain a growing pandemic and our economy heads toward a recession, reporting indicates that bank regulators might choose this moment to eliminate key safeguards that prevent exorbitantly priced, predatory loans. Meanwhile...