Banks' alternative products prompt CFPB scrutiny

04/26/2012 | New York Times (tiered subscription model), The

More large banks are offering low-income customers an expanded list of products such as short-term loans with high fees. Such offerings have escaped regulatory oversight and offer banks a chance to recoup fees lost in other areas, but the Consumer Financial Protection Bureau is looking into the practice. Banks say they're offering a needed service.

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New York Times (tiered subscription model), The

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