Five Federal Agencies Encourage Small-Dollar Loans to Consumers and Small Businesses

National Mortgage Professional, Mar. 26, 2020
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corp., the National Credit Union Administration, the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau issued a joint statement encouraging banks, savings associations and credit unions to offer responsible small-dollar loans to consumers and small businesses in response to COVID-19.