Last Payday Alternative Loans Rule Provides Greater Flexibility

Federal credit unions should be able to offer more payday alternative loan choices under one last guideline (starts brand new window) approved, 2-1, by the NCUA Board.

“The PALs II guideline is really a solution that is free-market responds to your requirement for small-dollar financing into the marketplace,” NCUA Chairman Rodney E. Hood stated. “This could make a huge difference by helping borrowers build or repair credit documents, permitting them to graduate with other conventional products that are financial.Continue reading→