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In a 2-1 vote, the NCUA board of directors adopts an alternative to payday loans

The NCUA Board of Directors (Source: NCUA) A divided NCUA board passed a rule Thursday that allows federal credit unions to make short-term loans of up to $2,000 as an alternative to predatory payday loans. The new alternative payday loan option, known as PAL II, would not replace the current PAL model, but would provide […]