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Payday Lending Interest Cap Campaign Suspends Legal Challenge

Sep
05

A ballot initiative to cap lending in Missouri at 36 percent annually will not be up for a vote in Missouri this November.  Proponents of the payday lending initiative, along with a measure to raise the minimum wage from $7.25 to $8.25 per hour, have given up their challenge to place both on the November ballot.

The petition efforts were rejected by Missouri Secretary of State Robin Carnahan on August 7 after they fell short of the required number of valid registered voters’ signatures.

Posted By Halley Hayden read more

NCUA Offers MFOEL Clarification

Jul
23
NCUA Offers MFOEL Clarification

The National Credit Union Administration (NCUA) issued a Letter to Federal Credit Unions (12-FCU-02) on July 20 to provide guidance and best practices on multi-featured open-end lending (MFOEL) plans and Multi-Featured Lending (MFL) plans.

Posted By Halley Hayden read more
Posted By Halley Hayden read more
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