Small-Dollar Loans in the U.S.: Evidence from Credit Bureau Data

Jessica N. Flagg and Simona Hannon

No 2024-07-19-1, FEDS Notes from Board of Governors of the Federal Reserve System (U.S.)

Abstract: Small-dollar loans were brought into the spotlight in March 2020, when five agencies—the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), and the Office of the Comptroller of the Currency (OCC)—issued a joint statement encouraging their supervised financial institutions to offer such loans to consumers and small businesses in response to the onset of the pandemic.

Date: 2024-07-19
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fedgfn:2024-07-19-1

DOI: 10.17016/2380-7172.3571

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