Federal Deposit Insurance Corporation

Federal Deposit Insurance Corporation

Each depositor insured to at the least $250,000 per insured bank

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Financial Institution Letters

Tips for Payday Lending

Purpose This guidance provides information regarding payday lending, a specific form of subprime lending, and supplements and clarifies previously given guidance about such programs, like the July 2003 recommendations for Payday Lending. 1 It defines security and soundness and conformity factors for examining and supervising state nonmember organizations that have payday financing programs. Continue reading “Federal Deposit Insurance Corporation”