Urban Institute Supports Fostering Competition

This study suggests that “stricter regulation coupled with standard and improved disclosures for consumers will increase competition within the alternative financial sector.” An interesting deduction from the report is how the relationship between disclosure and competition is portrayed. The point made in the report suggests that better rate disclosure leads to easier comparisons by consumers for prices between lenders, which in turn lead to increased price competition. That seems logical to me.

Tagged as: Budget, Cash Advance, Disclosure, Finance, Payday Loan, Regulation, Report, Study, Urban Institute