Six of The Eight Largest Banks Now Offer Affordable Small Loans

PEW | By: Alex Horowitz & Gabriel Kravitz |

The consumer-friendly moves provide savings to customers over costly lenders

Just five years ago, no large banks offered small installment loans or lines of credit to checking account customers with low or no credit scores but today thanks in part to changes in federal regulations to help consumers, six of the eight largest banks, measured by their number of branches, do. These loans are safer and more affordable for customers who previously would turn to high-cost payday loans or other alternative financial services, such as auto-title loans and rent-to-own agreements.


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