Payday Alternative Loan Rulemaking (PALs I Rule)

Payday Alternative Loan Rulemaking (PALs I Rule) The PALs I rule in 2010, the Board amended the NCUA’s general lending rule, В§ 701.21, to provide a regulatory framework for FCUs to make viable alternatives to payday loans. 9 The PALs I rule, В§ 701.21(c)(7)(iii), allows an FCU to provide to its people a PAL loan, […]