Prescriptive limitations on bank-offered deposit advance services and products will result in less competition.

Prescriptive limitations on bank-offered deposit advance services and products will result in less competition.

Customer need is obvious: Bank clients consistently sign up high satisfaction prices for deposit advance items. At a industry hearing held by the CFPB on 19, 2012 in january

Birmingham, Alabama, Director Richard Cordray remarked, “I would like to be clear about a very important factor:

We observe that there clearly was a necessity and a need in this country for crisis credit.” 6 This declaration bands more real today than ever. Customers need access to short-term, small-dollar alternatives, frequently utilizing the solution as a cashflow administration device.Continue reading