The pandemic has created challenges for consumer lending as a whole, but in particular short-term or small dollar lending. Industry expert Hilary B. Miller joins the podcast to discuss the CFPB’s rescission of the underwriting provision of the payday rule and its impact on financial institutions going forward. Hilary sees lenders going back to a model of flexibility and “individualized determination” when considering if credit should be extended. However, it remains to be seen whether traditional banks will jump into the small dollar lending market and whether non-bank lenders will continue to move away from short term loans and expand into longer-term installment loans.
DISCLAIMER – No information contained in this Podcast or on this Website shall constitute financial, investment, legal and/or other professional advice and that no professional relationship of any kind is created between you and podcast host, the guests or Clark Hill PLC. You are urged to speak with your financial, investment, or legal advisors before making any investment or legal decisions.
Funk Game Loop by Kevin MacLeod
Link: https://incompetech.filmmusic.io/song/3787-funk-game-loop
License: http://creativecommons.org/licenses/by/4.0/
DISCLAIMER – No information contained in this Podcast or on this Website shall constitute financial, investment, legal and/or other professional advice and that no professional relationship of any kind is created between you and podcast host, the guests or Clark Hill PLC. You are urged to speak with your financial, investment, or legal advisors before making any investment or legal decisions.