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Sources: CreditSnap research, 2016 MDRC Payday Lending Whitepaper, 2017 CFSI Underbanked Consumer Study, CFPB Payday Lending Report

When I recently came across an NCUA proposal to expand its alternative lending policy, it was evident there is an increasing interest among credit unions to expand into payday loan alternatives. That interest is not just driven by higher margins, but by an increasing awareness about making financing affordable for a segment that has historically relied entirely on storefront payday lenders.

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