Brief Small-Dollar Credit: Protecting Consumers and Fostering Innovation
Signe-Mary McKernan, Caroline Ratcliffe, Caleb Quakenbush
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Consumer demand for small-dollar credit to counteract financial ups and downs and provide liquidity will likely persist, leaving room for regulators, providers, and potential innovators to explore ways of safely meeting those needs. The Urban Institute convened researchers and state and federal regulators to discuss what is known—and unknown—about the small-dollar credit market to help inform efforts to protect consumers and create affordable, accessible, and mobility-enhancing small-dollar credit products. Participants discussed the diversity of small-dollar credit consumers, what kinds of product features work best for consumers, and gave insights into existing experiences with regulation.

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Research Areas Wealth and financial well-being
Tags Asset and debts Financial products and services Volatility Opportunity and ownership Family credit and debt
Policy Centers Center on Labor, Human Services, and Population