The NCUA intends to consider adding a new option to its Payday Alternative Loan Program, according to documents filedwith the Office of Management and Budget.

The agency plans to propose rules “modifying the minimum andmaximum amount of the loans, eliminating the minimum membershiprequirement, and increasing the maximum maturity for these loans,”according to its Spring regulatory agenda, released by OMB onWednesday.

The new program would not replace the current PAL program, butwould supplement it. The outline said that the agency also willsolicit comments on the possibility of creating a third loanoption, which would include different “fee structures, loanfeatures, maturities, and loan amounts.”