CFPB Pitch Could Chase CUs Past Paycheck Option Loans

CFPB Pitch Could Chase CUs Past Paycheck Option Loans

The client economical policies Bureau’s proposed guideline crack down on predatory pay day loan providers could find yourself shutting all the way down some financing unions’ consumer-friendly cash advance solutions.

State personnel CU, Raleigh, N.C., provides manage a successful, lucrative pay day loan alternate option system for 10 years, but Chief Executive Officer Jim Blaine taught depository financial institution diary the man worries the fresh laws suggested by CFPB can result in his own depository financial institution in the long run closing lower their payday remedies. Continue reading “CFPB Pitch Could Chase CUs Past Paycheck Option Loans”