Small-Dollar Loans are on 🔥

Marcus, Marcus, Marcus! & RIP LendingClub

Competition in Small-Dollar Lending Finally Paying Off For Consumers

In late March, several US financial regulators, including the CFPB, FDIC, and OCC, issued a joint statement encouraging responsible small-dollar lending in response to the economic dislocations caused by COVID-19.

It’s unclear if Bank of America’s announcement this week of its Balance As…