There was previously this recommended price limit from the FDIC, that is the main regulator for banking institutions, therefore the price limit is at 36%. Previously this current year, the FDIC, along with other regulators, granted some guidance that omitted that APR cap — and that really would be to encourage banking institutions to start out providing small-dollar loans to carry some competition towards the lending space that is small-dollar. And there’s a bit of research that states that banking institutions could possibly be well-positioned to supply these loans at sub-100% APRs while additionally having that current customer relationship where they could evaluate your capability to settle, as well as can report your repayments to credit reporting agencies. Read More “I am aware that regulators had been hoping to get banking institutions into this room to complete these smaller dollar loans”