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BoA Goes Micro With Consumer Loan Up To $500

PYMNTS

Bank and KeyBank , the only other major banks to offer such a small loan program, according to The Charlotte Observer. FDIC), National Credit Union Administration and Office of the Comptroller of the Currency — urged bankers to begin offering such small-dollar loans to help consumers deal with temporary cash flow problems.

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CFPB: Are They Coming to Get You?

Jeff For Banks

Another challenge is imposed by the very government that tries to assist LMI households: regulation. The operating cost is largely attributable to the distribution through the branch network and regulation. Since a bank can't cut regulation, they trim their branch network to lower those costs. What does that write-up look like?