Acting Comptroller of the Currency Rescinds 2013 Deposit Advance Products Guidance

Posted October 11, 2017

On Oct. 5, 2017, as the CFPB released regulations impacting some small-dollar loans, the Office of the Comptroller of the Currency did the opposite and rescinded 2013 Deposit Advance Products Guidance, thereby making it easier for national banks to make small, short-term loans to customers who regularly receive direct deposits via ACH.
 

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