Category: payday loans no fees

Tips for Payday Lending (Revised 2015) november

Purpose This guidance provides details about payday lending, a specific types of subprime lending, and supplements and clarifies previously granted guidance about such programs, such as the July 2003 tips for Payday Lending. 1 It defines security and soundness and conformity factors for examining and state that is supervising organizations which have payday financing programs.

This guidance is necessitated by the high-risk nature of payday financing plus the significant development of this system.