Federal Deposit Insurance Corporation : Each depositor insured to at the very least $250,000 per insured bank

Federal Deposit Insurance Corporation : Each depositor insured to at the very least $250,000 per insured bank

Purpose This guidance provides information on payday lending, a certain variety of subprime lending, and supplements and clarifies previously given 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 risk that is high of payday lending plus the substantial development of this system. Read more