Meeting Unexpected Expenses: Increasing Access to Affordable Small Dollar Lending in Minnesota

The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Federal Reserve Bank of Minneapolis, and the Small Business Administration are hosting an in-person event on June 25, 2024, in Minneapolis, Minn. The event will bring together financial institutions, community development financial institutions (CDFI), and community stakeholders to better understand the small dollar lending landscape in Minnesota and what organizations are working to meet small dollar community credit needs. Speakers will discuss Minnesota’s recently passed usury law and how innovative partnerships can help increase access and availability of affordable small dollar loans. This event will also feature a speaker from the U.S. Department of Treasury’s CDFI Fund who will discuss programs to support small dollar lending within CDFIs and how Bank Enterprise Awards can help financial institutions invest in economically distressed communities. Invited attendees will include representatives from banks, CDFIs, nonprofits, and other organizations that support access to affordable small dollar credit for low- to moderate-income communities in Minnesota. The event is free, but registration is required. Register here. For more information, please contact Community Affairs Officer Melissa Holman.