Key points are not available for this paper at this time.
Small-dollar loans were brought into the spotlight in March 2020, when five agencies—the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau (CFPB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), and the Office of the Comptroller of the Currency (OCC)—issued a joint statement encouraging their supervised financial institutions to offer such loans to consumers and small businesses in response to the onset of the pandemic.
Flagg et al. (Mon,) studied this question.