Credit Unions’ Goal: Get Members Out of Payday Lending Cycle

At a CFPB hearing in Richmond, the credit union message stood apart from the message of other panelists, many of whom testified about the need for payday lending services.  Stan Leicester of Bayport CU testified that credit unions have two primary objectives; to get members off of the weekly payday lending cycle and to help them improve their credit scores. [3/27/15]