Last month, Bank of America introduced a small dollar, short-term installment loan product called “ Balance Assist” that allows customers to borrow up to $500 to be paid back in three equal monthly installments. In doing so, Bank of America joined several other large banks that offer small dollar borrowing…
On June 25, the Federal Reserve Board released the results of its stress tests for 2020 for both the regular, planned stress test initiated prior to the onset of COVID-19 and a supplementary “sensitivity analysis” in response to the evolving conditions. …
Paul Calem
Paul Calem is a senior vice president of research for the Bank Policy Institute. https://bpi.com/person/paul-calem
