Changeflow GovPing Financial Regulation Small Dollar Loan Program Application Consultation
Priority review Consultation Added Consultation

Small Dollar Loan Program Application Consultation

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Summary

The Community Development Financial Institutions Fund (CDFI Fund) has closed the comment period for its proposed Small Dollar Loan Program application. This program aims to support the development of small dollar loan products by eligible entities.

What changed

The CDFI Fund has concluded the public comment period for its proposed Small Dollar Loan Program application. This initiative seeks to foster the creation and expansion of small dollar loan offerings by qualified organizations, potentially impacting entities involved in consumer lending and financial inclusion.

Regulated entities interested in participating in or being affected by this program should review the proposed application guidelines and any subsequent final rules. While the comment period has closed, entities may still wish to monitor the CDFI Fund's website for further announcements regarding the program's implementation and any specific requirements or deadlines for future applications.

What to do next

  1. Review proposed Small Dollar Loan Program application guidelines
  2. Monitor CDFI Fund website for program implementation updates

Source document (simplified)

Content

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Classification

Agency
Various Federal Agencies
Compliance deadline
February 4th, 2024 (769 days ago)
Instrument
Consultation
Legal weight
Non-binding
Stage
Consultation
Change scope
Substantive

Who this affects

Applies to
Financial advisers Banks Nonprofits
Geographic scope
National (US)

Taxonomy

Primary area
Consumer Finance
Operational domain
Compliance
Topics
Financial Services Banking

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