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The article focuses on the deregulation proposed by U.S. President Jimmy Carter regarding the phase out of interest rate ceilings in the U.S. It says that the deregulation will have an effect on eliminating the differential between commercial banks and savings institutions. Carter suggested that saving bankers should be allowed to provide shorter-term and higher-interest consumer loans, and variable-rate mortgages for home buyers. He added that federally chartered banks should be authorized to offer interest-bearing checking accounts. Meanwhile, it says that top commercial bankers have promoted the phase out of the interest rate ceilings and differential, however, savings banks and savings and loan associations have opposed the deregulation.

The article reports that Federal Deposit Insurance Corp. exploring ways to reopen small-dollar lending for banks as consumer groups push for limitations. Topics discussed include support interest rate caps and restrict banks' use of nonbank partners to develop loan products; views of John Ryan, president and chief executive officer of the Conference of State Bank Supervisors, on opposing actions fail to control interest rates by the state regulators; and make small-dollar loans affordable.

The article discusses the battle over the interest rates that online lenders in Colorado can charge in 2017. The state plans to implement its 12 percent rate cap for consumer loans. Consumer lenders Avant and Marlette Funding are fighting about the annual percentage rates for their personal loans. Colorado officials sued both firms about their need to comply with the interest rate cap.

The article reports that U.S. House Democrats have sent a letter to U.S. Consumer Financial Protection Bureau (CFPB) Director Richard Cordray on September 28, 2016, calling for CFPB to strengthen its proposal to rein in payday lending. Topics mentioned include CFPB's adoption of an ability-to-repay principle based on a borrower's income and expenses, restriction against CFPB from capping interest rates, and flexibility on the payment test for longer-term installment loans.

The article reports that the online loan service provider CashCall will pay $1 million settlement with the California Department of Business Oversight to resolve the complaints that alleged the company of deceiving regulators and consumer on personal loan charges through exceeding interest rate caps rate set. According to Department of Business Oversight commissioner Jan Lynn Owen, the settlement holds CashCall accountable for unlawful compensates and conduct against victims.

The article offers information on the decision of the Central Bank of Oman to restrict interests on credit cards banks. The annual interest rate for cardholers whose salaries direct gets deposited in the bank, which has issued them a cards will limit by 18 percent. Whereas, limit for other cardholders is 20 percent. The annual interest rate for credit cards in Oman range from 24 percent to 36 percent. The bank expects cardholders to use credit card as means of payment and not for personal loans.