payday lending

• Payday Lending CUSO Says it Offers Valuable Service

  By David Morrison  |  May 22, 2013

  XtraCash says it and its clients exceed bar set by payday lenders and if forced to meet NCUA standards, the credit unions couldn't do it.

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  Credit Union CEO Defends Payday Loan Program

  By David Morrison  |  May 22, 2013

  Louisiana FCU charges far less than payday lenders, offering escape not predation, CEO Rhonda Hotard says.

• Two Payday Lending Credit Unions Emphasize CUSO Role

  By David Morrison  |  May 17, 2013

  Two of the nine credit unions hit in NCLC letter respond; NCUA says it'll look into the complaint.

• NCLC Charges Nine FCUs Still Offering Payday Loans

  By David Morrison  |  May 17, 2013

  Consumer advocates say most credit unions cited in 2010 have abandoned the practice.

• CFPB’s Payday Lending Criticism Includes Banks, Credit Unions

  By Heather Anderson  |  April 24, 2013

  Bureau report takes on deposit advance loans but stops short of promising new rules.

• Payday Lending Vilified Again

  By David Morrison  |  March 27, 2013

  A new report from the Center for Responsible Lending has documented that payday lending at six large banks is continuing, and the reported alleged it is damaging consumers financially.

• Center for Responsible Lending Report Attacks Bank Payday Lending

  By David Morrison  |  March 21, 2013

  Six banks named in report, charging abuse through high interest rates, other practices, and calling for program shutdowns.

• J.P. Morgan Chase Moves to Help Depositors Fight Payday Lenders

  By David Morrison  |  March 20, 2013

  Big bank says it will limit insufficient fund charges to combat practice of putting checks through to accrue multiple fees.

• Consumer, Urban Coalitions Pushing Regulators Again on Payday Loans

  By David Morrison  |  March 20, 2013

  Letters to chief regulators calls for curbs on payday lending, citing risks to consumers and the institutions themselves.

• CUs Avoid New Restrictions in Defense Bill

  By Heather Anderson  |  January 2, 2013

  Congress included language in the bill that gives MLA enforcement authority to the CFPB and NCUA.