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Payday Lending Interest Cap Campaign Suspends Legal Challenge


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


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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