Whenever Redstone FCU learned that approximately 25 % of its users had an online payday loan through a short-term loan provider, it established its very own payday alternative loan system and began a massive training campaign.

The CFPB at the beginning of October finalized a guideline that will impose brand brand brand new defenses on pay day loans, automobile name loans, deposit advance services and products and high-cost that is certain and open-end loans. Continue reading →