Louisiana FCU charges far less than payday lenders, offering escape not predation, CEO Rhonda Hotard says.
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.
The NCUA will likely have much to consider as it reads through more than 280 comment letters that came in on the agency’s proposal to amend the CUSO rule.
The National Consumer Law Center continued its criticism of payday lending CUSOs in a NCUA comment letter on proposed amendments to the CUSO rule.
The National Consumer Law Center has issued a report that is critical of the fees many unemployed people have to pay because their states put unemployment benefits on cards.
Unemployment, rising debt and financial uncertainty are continuing to change the perception of those who are using payday loans.
An NCLC report describes how many for-profit schools began making costly private student loans after third-party lenders terminated their partnerships with the schools following the credit crash.
The National Consumer Law Center, a longtime opponent of some credit union payday loan alternative programs, has recommended qualities that a credit card that is "safe" for consumers would have.
The National Consumer Law Center, a longtime opponent of some credit union payday loan alternative programs, has recommended qualities a credit card that is "safe" for consumers would have--and that many credit union issued cards have already.