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FDIC Should Not Enable Banking Institutions to Make loans that are payday says Coalition Letter

FDIC Should Not Enable Banking Institutions to Make loans that are payday says Coalition Letter

As seat of FDIC considers policy, broad coalition urges regulators and banking institutions to prevent toxic loans that trap customers with debt

WASHINGTON, D.C. – the relative mind associated with Federal Deposit Insurance Corporation (FDIC), Jelena McWilliams, is “reviewing whether or not to rescind directions for ‘deposit advance’ loans,” according to an meeting she had utilizing the Wall Street Journal.