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Federal Deposit
Insurance Corporation

Each depositor insured to at least $250,000 per insured bank

Since 1933, no depositor has lost a penny of FDIC-insured funds

Financial Institution Letters

FIL-26-2020
March 26, 2020

Statement Encouraging Responsible Small-Dollar Lending to Consumers and Small Businesses in Response to COVID-19

Printable Format:

FIL-26-2020 - PDF (PDF Help)

Summary:

The FDIC, Consumer Financial Protection Bureau, the Federal Reserve Board, the National Credit Union Administration (NCUA) and the Office of the Comptroller of the Currency (OCC) (collectively, "the agencies") recognize the potential for the Coronavirus Disease (referred to as COVID-19) to adversely affect financial institution customers. The agencies are issuing a statement to encourage financial institutions to offer responsible small-dollar loans to consumers and small businesses.

Statement of Applicability to Institutions Under $1 Billion in Total Assets: This Financial Institution Letter applies to all FDIC-supervised institutions.

Highlights:

Distribution:

Suggested Routing:

Attachments:

Contacts:

Note:

Access FDIC Financial Institution Letters (FILs) on the FDIC's website.

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Paper copies of FDIC FILs may be obtained through the FDIC's Public Information Center, 3501 Fairfax Drive, E-1002, Arlington, VA 22226 (877-275-3342 or 703-562-2200).

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