Collaboration & Competition Between Banks & Fintech

Carolina Banker

Authored Article


In October 2017, the Consumer Financial Protection Bureau (CFPB) released a final small-dollar loan rule that will require lenders to engage in certain underwriting and account withdrawal practices. On the same day the rule was announced, the Office of the Comptroller of the Currency (OCC) rescinded deposit-advance-product guidance that many in the industry viewed as a roadblock to banks issuing small-dollar loans to their customers. These two actions may help pave the way for banks and fintech companies to test the waters of the small-dollar lending industry.

The complete article was originally published in the Carolina Banker Winter 2017 issue.