The CFPB has a number of proposals under consideration that are expected to require the short-term, small-dollar credit market to take new steps before providing a consumer a covered loan. Are you ready?
When it comes to competing for and analyzing underbanked consumers, lenders cannot solely rely on traditional credit reporting to reveal valuable insight on them. Learn about alternative data sources
Over one-third of the consumers in the FactorTrust database would be considered in the cooling off period at the time of application. This is going to have an enormous impact on lenders. Learn more
The “Ability to Repay” concept initially used by the CFPB for mortgages in 2010 is now a key concept for Payday, Vehicle Title and Installment Loans. Learn ways to comply with ATR provisions
Published quarterly, the FactorTrust Underbanked Index provides insight into consumers’ ability to repay loans, their income, housing costs and other important data points. Read the latest edition
Learn best practices on how to build security from the “ground up” and how starting with security is a cost-effective approach to product innovation in this security blog by Thomas B. Pahl, Acting Director, FTC Bureau of Consumer Protection