FDIC Advisory Committee to Highlight Results of FDIC Small-Dollar Loan Pilot
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The pilot concluded with 28 volunteer banks with total assets ranging from $28 million to nearly $10 billion and offices in 27 states. Banks in the pilot provided loans up to $2,500, at annual percentage rates of less than 36 percent, with low or no fees and loan terms of at least 90 days to give consumers time to repay.
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