OCC Bulletin: Core Lending Principles for Short-Term, Small-Dollar Installment Lending

The Office of the Comptroller of the Currency (OCC) issued OCC BULLETIN 2018-14, which encourages small dollar lending by national banks. It has some interesting items regarding bank partnerships:

Reasonable policies and practices specific to short-term, small-dollar installment lending would generally include the following:

….

  • Loan pricing that complies with applicable state laws and reflects overall returns reasonably related to product risks and costs. The OCC views unfavorably an entity that partners with a bank with the sole goal of evading a lower interest rate established under the law of the entity’s licensing state(s)

OCC_ Installment Lending_ Core Lending Principles for Short-Term, Small-Dollar Installment Lending

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s