Federal Deposit Insurance Corporation
Federal Deposit Insurance Corporation Each depositor insured to at the very least $250,000 per insured bank Residence > Information & Events > Financial Organization Letters Financial Institution Letters Instructions for Payday Lending (Revised November 2015) Purpose This guidance provides information regarding payday lending, a specific variety of subprime lending, and supplements and clarifies previously granted guidance about such programs, such as the July 2003 instructions for Payday Lending. 1 It defines security and soundness and conformity factors for examining and supervising state nonmember organizations which have payday financing programs. This guidance is necessitated by the risky nature of payday financing...
