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Policymakers should establish reasonable interest rate ceilings for all lenders. These rates should correspond to prevailing Treasury Bill rates.

Product information and legal and disclosure documents should be clear and accurate. 

Policymakers should require consumer protections for consumer and small-business loans that are underwritten using financial account data, including the following: 

Financial institutions should be required to provide loan-level data while protecting consumer privacy and security to better understand lending disparities.

Regulators should provide consumer protections in credit reporting. This includes: 

Policymakers should ensure consumer protections in the use of alternative data in credit reports and scores.

Credit reports and scores should be used as an underwriting tool for consumer loans. They should not be used for other purposes.

Policymakers should create a maximum floating interest rate to protect consumers against cost shifts on credit products.

Disclosures should be required to be clear, accurate, and informative so that consumers can make more meaningful card purchase and payment decisions. 

Consumers should receive the same federal protections for fraudulent transactions for credit cards, debit cards, and registered prepaid cards.