The NCUA board will consider whether to make changes to the rules governing its Payday Alternative Loan Program at its May 24 meeting.
The announcement is not a surprise since the board announced that it intended to make changes to the loan program when it recently released its Spring regulatory update.
The agency plans to propose rules “modifying the minimum and maximum amount of the loans, eliminating the minimum membership requirement, and increasing the maximum maturity for these loans,” according to its Spring regulatory agenda.
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