WASHINGTON — The FDIC Board is following up on talk of helping banks provide a payday loan alternative.
The one discussion item on the agenda for tomorrow's board meeting is the FDIC Pilot Project for Affordable Small-Dollar Loans. The meeting will take place at 10 a.m. June 19 at the FDIC's Washington headquarters at 550 17th Street, N.W.
Financial services for low-income households was an issue of interest while FDIC Chairman Sheila Bair served in academia before her current appointment and after serving as Treasury assistant secretary for financial institutions. She has previous commended credit unions on their efforts in offering payday lending alternatives.
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