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CFPB Payday Rule Impact On NCUA PALs and Non-PALs Loans

CFPB Payday Rule Impact On NCUA PALs and Non-PALs Loans PALs we Loans: As stated above, the CFPB Payday Rule offers financing produced by a federal credit union in conformity aided by the NCUA’s conditions for a PALs I loan (see 12 CFR 701.21(c)(7)(iii) (opens brand new screen) ). As being a total result, PALs we loans aren’t at the mercy of the CFPB Payday Rule. PALs II Loans: according to the loan’s terms, a PALs II loan produced by [...]

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