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Payday Loans: Regulators Now Looking at Banks and Credit Unions

Posted on December 5, 2013 by Kristy Lamar

It doesn’t surprise anyone to read a story about crack downs on fast payday loans both brick ‘n mortar and online. What might come as a shock is that your neighborhood bank is now the focus of the latest short-term loan crack down. As of November 21, banks and credit unions have had regulators in their short-term loan business practices. Banks and credit unions will now have to disclose the APR associated with fast cash loans. Prior to this they had been getting away without having to disclose the staggering … Continue reading →

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