WASHINGTON—Regulators are encouraging banks to offer small, short-term loans to consumers in a bid to revive a riskier lending sector that dried up in the years after the financial crisis. The Office of the Comptroller of the Currency, a national bank regulator, on Wednesday said that it encourages financial firms to begin offering loans to be repaid over two to 12 months for amounts typically ranging from $300 to $5,000. The loans carry higher interest rates than longer term loans.

Source: Wall Street Journal May 23, 2018 18:00 UTC