FDIC Must Not Enable Banking Institutions to Make Pay Day Loans, says Coalition Letter

FDIC Must Not Enable Banking Institutions to Make Pay Day Loans, says Coalition Letter

As seat of FDIC considers policy, broad coalition urges regulators and banking institutions to prevent toxic loans that trap consumers with debt

WASHINGTON, D.C. – the relative mind regarding the Federal Deposit Insurance Corporation (FDIC), Jelena McWilliams, is “reviewing whether or not to rescind recommendations for ‘deposit advance’ loans,” according to an meeting she had utilizing the Wall Street Journal. Read more…