The nationwide Credit Union management urges credit unions to understand the potential risks related to payday financing and title loan programs.
Payday advances (a.k.a. deferred advance loans, payday loans, check advance loans, post-dated check loans, or deferred deposit check loans) are small-dollar, short-term loans borrowers vow to settle from their next paycheck or wage deposit. These loans ordinarily have high costs, are rolled over usually and that can bring about unpleasant lending methods. Read More