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- Regulators encourage lenders to give loans to responsible consumers and small businesses d...Borrowers in more difficult situations should also be given some latitude By Gary Guthrie of ConsumerAffairs March 27, 2020 In the middle of all the yin and yang surrounding the COVID-19 outbreak, good financial news continues to roll in for consumers. On Thursday, five federal financial regulatory agencies came together to motivate banks, credit unions, and savings associations to give small-dollar loans to credit-worthy consumers and small businesses in response to COVID-19. Responsible small-dollar loans can play an important role in meeting customers' credit needs because of temporary cash-flow imbalances, unexpected expenses, or income disruptions during periods of economic stress or disaster recoveries, the Consumer Financial Protection Bureau, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, and Office of the Comptroller of the Currency said in a joint statement. What types of loans will be available? The group left open the range… ..... Read More.2 days ago
- Average gas price falls below $2 a gallon in 29 statesGas prices continue their coronavirus plunge By Mark Huffman of ConsumerAffairs March 27, 2020 With Americans told to stay inside and work from home, there have been fewer cars at the gas pump. As a result, prices are in an accelerating freefall. The AAA Fuel Gauge Survey shows the national average price of regular gas is $2.05 a gallon, 12 cents less than a week ago and 62 cents cheaper than a year ago. The average price of premium gas is $2.70 a gallon, down 11 cents from last Friday. The average price of diesel fuel is $2.63 a gallon, sixt cents less than last week. Typically gas prices start to trend more expensive at the beginning of spring, especially as motorists get out to enjoy the warmer weather and travel for spring break. That is not the case this year, said Jeanette Casselano, AAA spokesperson. With Americans urged… ..... Read More.2 days ago