Highlights
- A recent program on consumer debt in
America that focused on small-dollar and student loan debt
attracted diverse stakeholders as policy debates circle around the
federal preemption efforts to avoid state usury caps and growing
calls for student loan forgiveness.
- The discussion on small-dollar loans
took place the same week the OCC and FDIC proposed a rulemaking to
reverse the Madden v. Midland decision.
A number of diverse stakeholders gathered at George Mason
University (GMU) on Nov. 18, 2019, to participate in a program
entitled "Consumer Debt in America: What Would Rate Caps and
Student Loan Forgiveness Mean?" The debate, which was
moderated by Thomas Vartanian, executive director of GMU's
Program on Financial Regulation & Technology, focused on two
important streams of consumer lending: small-dollar loans and
student education loans. Both are hot topics in the news right now
as policy debates circle around the federal preemption efforts
