Consumer Credit Regulation: 9.4.3.3.1 Guidelines for payday lending and deposit advance loans
Certain state-chartered banks and savings associations come under the FDIC’s jurisdiction if they are FDIC-insured banks and are not members of the Federal Reserve System. In 2003 the FDIC first issued guidelines for banks regarding payday lending, at a time when FDIC-regulated banks, like other banks, were engaged in rent-a-bank lending. (Rent-a-bank loans have made a comeback, with FDIC encouragement.783)