Each depositor insured to at the very least $250,000 per insured bank
|Residence > Information & Events > Financial Organization Letters|
| Financial Institution Letters
Directions for Payday Lending
Purpose This guidance provides details about payday lending, a specific kind of subprime lending, and supplements and clarifies previously released guidance about such programs, such as the July 2003 tips for Payday Lending. 1 It defines safety and soundness and conformity factors for examining and supervising state nonmember institutions which have payday financing programs.