The National Credit Union Administration will "aggressively pursue" institutions offering payday loans that do not meet agency-set standards, and will "continue to encourage credit unions to offer products that result in lower costs to credit [...]
By Christopher Matthews Big Wall Street banks and consumer advocacy groups like the Center for Responsible Lending don’t agree on much. But recently, these strange bedfellows have been brought together by their opposition to [...]
BY JESSICA SILVER-GREENBERG Some of the nation’s largest banks continue to offer payday loans, pitched as advances on direct-deposit paychecks, despite growing regulatory scrutiny and mounting criticism about the short-term, high-cost loans. [...]
by. David Morrison The Center for Responsible Lending, an affiliate of the $410 million Self-Help Credit Union in Durham, N.C., has issued a report attacking six banks for continuing to offer loans it says [...]
