PYMNTS-MonitorEdge-May-2024

Small Loans

Connecticut Department of Banking Issues Guidance on Small Loan Rules
Connecticut Department of Banking Issues Guidance on Small Loan Rules
September 13, 2023  |  Regulation

The Connecticut Department of Banking has issued new industry guidance regarding the Small Loan Lending and Related Activities Act. These changes in the regulation are set to come into...

READ MORE >
Can A Poverty-Fighting Tool In Bhopal Work For Customers In Brooklyn?
Can A Poverty-Fighting Tool In Bhopal Work For Customers In Brooklyn?
April 20, 2019  |  Alternative Finances

Microlending is a relatively simple concept that can be complicated to evaluate. The theory behind it, pioneered by Nobel Prize-winning economist Muhammad Yunus, is pretty...

READ MORE >
SoLo Adds Mastercard Integration To P2P Lending Platform
SoLo Adds Mastercard Integration To P2P Lending Platform
April 05, 2019  |  Loans

SoLo Funds announced it has added a Mastercard integration so users can link their debit accounts to the peer-to-peer (P2P) lending platform. The company noted...

READ MORE >
Has Microlending Lived Up To The Hype?
Has Microlending Lived Up To The Hype?
January 16, 2019  |  Loans

Microlending – or small loans (less than a few hundred dollars) – has become a popular, buzzed-about method of poverty relief over the last few...

READ MORE >
US Bank Launches Loan To Compete With Payday Lenders
US Bank Launches Loan To Compete With Payday Lenders
September 11, 2018  |  Alternative Finances

U.S. Bank is entering the small-dollar lending arena. Going forward, U.S. Bank depositors will be able to tap into an online, digital lending product aimed...

READ MORE >
Otting Loosens Rules On Short-Term Small-Dollar Loans
Otting Loosens Rules On Short-Term Small-Dollar Loans
April 26, 2018  |  Loans

Joseph Otting, Comptroller of the Currency, says that rules on short-term, small-dollar lending should be relaxed so U.S. banks are able to offer loans to...

READ MORE >