NCUA Seeks Expansion of Payday Lending Alternatives
Friday, June 8, 2018 8:25 AM

Federal credit union members could have more options for short-term, small-dollar borrowing under a rule proposed by the National Credit Union Administration Board. The proposed rule would create one new product in addition to the current payday loan alternative that has been available to federally chartered credit unions since 2010. The Board also is requesting credit union stakeholders to comment on a possible third option.  Click here for the proposed rule published 6/4/18 with 60-day comment period ending 8/3/18.

Source:  Federal Register