Effect on customers. The rule significantly curtails short term loans in its present form

Effect on customers. The rule significantly curtails short term loans in its present form Effect on customers. The rule significantly curtails short term loans, a fact acknowledged by the CFPB in its present form. The CFPB simulations suggest that utilising the power to repay choice (“prevention”), loan amount will probably fall between 69 84%. Their simulation, with the alternative choice (“protection”), would end up in […]

The NCUA Doubles Amount Credit Unions Will Offer for Payday Alternative Loans

The NCUA Doubles Amount Credit Unions Will Offer for Payday Alternative Loans The National Credit Union Administration (NCUA) voted 2-1 to approve the final rule related to expanding payday alternative loan options (PAL II) at the September open meeting. Even though the NCUA clarified into the last rule that the PAL II will not change the PAL we, the flexibleness for the PAL II will […]