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Payday Lending and Title Loans. NCUA LETTER TO FEDERAL CREDIT UNIONS

Payday Lending and Title Loans. NCUA LETTER TO FEDERAL CREDIT UNIONS

The criticisms connected with payday financing and name loans have obtained attention that is significant the news. The nationwide Credit Union management urges credit unions to be familiar with the potential risks connected with payday financing and name loan programs.

Pay day loans (a.k.a. deferred advance loans, payday loans, check advance loans, post-dated check loans, or deferred deposit check loans) are small-dollar, short-term loans borrowers vow to settle from their next paycheck or income deposit. Continue reading ‚Payday Lending and Title Loans. NCUA LETTER TO FEDERAL CREDIT UNIONS‘

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