Because of these weaknesses, cash advance portfolios must be categorized Substandard.

Because of these weaknesses, cash advance portfolios must be categorized Substandard.

category instructions The Uniform Retail Credit Classification and Account Management Policy (Retail category Policy) 7 establishes basic category thresholds for customer loans centered on delinquency, but also grants examiners the discernment to classify specific retail loans that display signs of credit weakness aside from delinquency status. An examiner additionally may classify retail portfolios, or portions thereof, where underwriting requirements are poor and current credit that is unreasonable, and might criticize account administration methods which are lacking.

Most payday advances have actually well-defined weaknesses that jeopardize the liquidation associated with financial obligation. Continuer la lecture de « Because of these weaknesses, cash advance portfolios must be categorized Substandard. »