Hints about future regulations on payday lending from CFPB indicate the rules could effectively shut down alternatives at credit unions.
The CFPB hasn't officially said it is writing new rules, but Director Richard Cordray hinted new regs are underway in a recent payday lending report.
In order to succeed in the 21st century, credit unions cannot afford to not serve the enormous and growing population of financially underserved consumer.
FactorTrust CEO Greg Rable says question is whether credit unions can afford not to serve the financially underserved.
Subprime credit cards, payday loans over the Internet among market-leading products.
FDIC to probe bank payday loans in response to a petition signed by 250 consumer rights advocates critical of a Fiserv lending software program.
The National Federation of Community Development Credit Unions announced a new program designed to help New York City area CDCUs offer payday loan alternatives last week.
Small NYC credit unions to be first to offer "Borrow and Save" loans.
Organization to offer loan-savings program to New York CDCUs.
Unemployment, rising debt and financial uncertainty are continuing to change the perception of those who are using payday loans.