Two of the nine credit unions hit in NCLC letter respond; NCUA says it'll look into the complaint.
Consumer advocates say most credit unions cited in 2010 have abandoned the practice.
Usury is pernicious at best, but government-endorsed usury lite helping people in dire financial straits is flat out repugnant. There is just no justification for participation in this vile activity. Government sanctioned usury lite is still hurtful to the downtrodden. There is never a valid reason to do the wrong...
All five lenders are operated independently by a tribal member at a South Dakota reservation, Northwest Credit Union Association says.
Settlement with SmartBuy also bans retailer from operating in New York State.
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.