Payday Alternative Loans (PALs) II

Title:

Payday Alternative Loans (PALs) II

Subject: Payday loans
Agency: NCUA
Status: Final
Summary:
The NCUA Board (Board) is issuing a final rule (referred to as the PALs II rule) to allow federal credit unions (FCUs) to offer additional payday alternative loans (PALs) to their members. The final rule does not replace the NCUA’s current PALs rule (referred to as the PALs I rule). Rather, the PALs II rule grants FCUs additional flexibility to offer their members meaningful alternatives to traditional payday loans while maintaining many of the key structural safeguards of the PALs I rule.
FR Doc: 2019-20821
Date proposed: May 24, 2018
Comments due date:

 

Final rule effective date: Dec. 2, 2019
Rule compliance date:
Agency release:

Payday Alternative Loan Rule Will Create More Alternatives for Borrowers

Related Reg Report item(s):

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