On the recordSeptember 21, 2011
We believe that banks have the capacity and the existing infrastructure to affordably offer small-dollar loans and some other products as well.
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congress.govWe believe that banks have the capacity and the existing infrastructure to affordably offer small-dollar loans and some other products as well.
Renacci emphasizes banks' ability to provide affordable small loans.
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Do the financial institutions that you regulate which offer short-term, low-dollar loans require the borrower to have above-average credit?
I think that Congressman Renacci--sorry--I really want to compliment you on focusing in on that issue, because I think that is a very, very important issue to allow us to really work together and be as effective and efficient as we can.
Thank you, Madam Chairwoman. And I want to begin by thanking you for holding this important hearing.