15
Jan

Banks Getting More Heat on Payday Loan Lending

Banks, just like our industry, are getting more heat for attempting to offer payday loan products. From Richard Bluementhal, CT Senator:

“In the letter, the senators urge the Federal Reserve, FDIC and Comptroller of the Currency to stop federally regulated banks from engaging in payday lending and to prevent further expansion of payday lending before this predatory practice spreads”

Read the piece in it’s entirety here: Senators Request Federally Chartered Banks to stop Offering Payday Loans

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