The Board’s Statement reflects a strategy distinctive from compared to the Agencies towards the DAP problem.

The Board’s Statement reflects a strategy distinctive from compared to the Agencies towards the DAP problem.

In its Statement, the Board additionally notes the participation of third-party vendors in some banks’ programs, and shows the increased consumer and conformity danger that will be a consequence of insufficient administration oversight of these vendors. It stresses that fee-sharing or comparable plans with such vendors can make incentives for improper sustained usage of DAP loans by customers. The Board expects State user banking institutions to closely develop procedures observe vendor practices and outcomes, and also to mitigate and handle customer and conformity dangers into the design and advertising of any deposit advance items they feature. Continuer la lecture de « The Board’s Statement reflects a strategy distinctive from compared to the Agencies towards the DAP problem. »