To get banking institutions and credit unions up to speed, they shall have to be in a position to process the loans quickly and cheaply—by automating their underwriting, as an example.

To get banking institutions and credit unions up to speed, they shall have to be in a position to process the loans quickly and cheaply—by automating their underwriting, as an example. And also to accomplish that, they require clear rules regarding how federal regulators want the economic sector to cope with small-dollar loans. The CFPB … [Read more…]