The Agencies note that because clients making use of DAP frequently have cashflow problems or blemished credit records, such loans provide a heightened credit risk to lending banks
The Agencies note that because clients making use of DAP frequently have cashflow problems or blemished credit records, such loans provide a heightened credit risk to lending banks The combination of a high-cost product and short repayment period creates a risk of some customers becoming trapped in a cycle of high-cost borrowing over an extended …