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Washington, D.C. – UNC Center for Community Capital research associate Kim Manturuk briefed a Congressional subcommittee Thursday on credit options available to under-banked working families and opportunities to expand them.

Manturuk testified before the U.S. House of Representatives Subcommittee on Financial Institutions and Consumer at a hearing, titled “An Examination of the Availability of Credit for Consumers.”

She described credit options available for under-banked working families, the unmet consumer demand for small-dollar credit products and several emerging technological innovations in the consumer credit marketplace.

“Our research indicates that there is a strong demand for small-dollar consumer credit that is ill-served by existing products such as payday loans, credit cards or bank loans,” Manturuk said. “Consumers want credit that is affordable, repayable and close-ended…We encourage lawmakers to promote policies which encourage these types of loans, as well as continue to encourage technological innovation in the development of consumer credit products.”

View Manturuk’s testimony.

Consumer financial services is a key area of research for the UNC Center for Community Capital, the leading center for research and policy analysis on the transformative power of capital on households and communities in the United States. The center is part of the College of Arts and Sciences at the University of North Carolina at Chapel Hill. Its in-depth analyses help policymakers, advocates and the private sector find sustainable ways to expand economic opportunity to more people, more effectively. For more information, visit or call (919) 843-2140.

Topics(s): Consumer Protections, Debt & Credit, Financial Capability, Financial Inclusion, Financial Services Industry, Savings & Asset-Building
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