Payday Lending

UCF and other investors celebrate end of bank payday lending product

January 22, 2014

After several years of persistence of shareholders including United Church Funds calling for the end to Wells Fargo predatory lending program, our efforts have paid off. Years of shareholder resolutions and dialogues promoting more responsible lending products have turned to … Continue »

 

Responsible lending

May 28, 2013

Wells Fargo Resolution 2012 – Payday Lending WHEREAS Predatory loan products such as payday loans have received significant public criticism for their high interest rates and rates of repeat borrowing. Our company is currently extending high-cost direct deposit advances that resemble … Continue »

 

Payday lending called into question

May 3, 2013

Under new guidelines proposed by federal financial institutions, ‘payday loan’ vendors and national banks offering similar products may be required to protect the very targets of their high-interest loans. The Federal Deposit Insurance Corporation (FDIC) and the Office of the … Continue »

 
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