Regulatory Alerts2020-05-20
Added · Updated
SR 20-14: Interagency Lending Principles for Making Responsible Small-Dollar Loans
The Federal Reserve, FDIC, OCC, and NCUA issued the Interagency Lending Principles for Making Responsible Small-Dollar Loans to encourage supervised financial institutions to offer responsible small-dollar loans for consumer and small business purposes. The agencies urge institutions to refer to these Principles when implementing reasonable policies and sound risk management practices for such lending activities. Reserve Banks are directed to distribute the letter to supervised institutions and staff, who may direct questions to their primary Reserve Bank contact or the Board’s public website.