The National Credit Union Administration has published a notice in the Federal Register proposing to amend the NCUA’s general lending rule to provide federal credit unions (FCU) with a second option for offering “payday alternative loans” (PALs). Comments on the proposal are due by August 3, 2018.
In 2010, the NCUA amended its general lending rule to allow FCUs to offer PALs as an alternative to other payday loans. … Continue Reading