ICBA Statement on OCC Small-Dollar Guidance
Washington, D.C (May 23, 2018)—Independent Community Bankers of America® (ICBA) President and CEO Rebeca Romero Rainey issued the following statement on the Office of the Comptroller of the Currency’s bulletin on short-term, small-dollar installment loans.
“ICBA appreciates the Office of the Comptroller of the Currency’s recognition that community banks can serve an important role in providing consumers with responsible short-term, small-dollar loans. Community banks pride themselves on having close relationships with their customers and being able to provide an affordable product that accommodates their short-term financial needs. The OCC’s guidance acknowledges the value of small-dollar lending.”
The Independent Community Bankers of America®, the nation’s voice for nearly 5,700 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit ICBA’s website at www.icba.org.