The guts for United states Progress applauds the FDIC and OCC’s efforts to look at deposit-advance services and products

The guts for United states Progress applauds the FDIC and OCC’s efforts to look at deposit-advance services and products

Two federal bank regulators, the Federal Deposit Insurance Corporation, or FDIC, as well as the workplace for the Comptroller of this Currency, or OCC, recently asked for opinions on the “Proposed assistance with Deposit Advance Products.” Browse the comment that is full to your FDIC right here also to the OCC right here.

A deposit-advance loan is a short-term loan for bank clients whom utilize direct deposit to immediately include earnings for their reports. The mortgage is then paid back directly from their next deposit.

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