How Do Most Credit Unions Currently Offer Small-Dollar Loans

Regardless of obstacles, credit unions should still consider offering small-dollar loan services to their members. While the quick loan industry’s reputation was tarnished by predatory lenders, the service itself is increasingly necessary.

How Does QCash Partner with Fintechs?

In the world of financial technology, it’s important to know that companies can form partnerships to better serve their clients. So how does QCash partner with other fintech companies? Imagine a world where fintech companies received report cards. Not just the usual A, B-, C+, or D nonsense, but a report card with healthy evaluative […]

Buy vs Build?

July 30, 2018 by Ben Morales, CEO QCash Why would a credit union make their own payday lending platform versus using the QCash platform? I’m often asked, “Why wouldn’t a credit union just do this on their own versus using the QCash platform?” The bottom line is, what we want from QCash Financial is everyone […]

Outcomes Won’t Match Intentions: The NCUA Needs to Keep It Simple With Payday Alternative Loans (PALs).

The third agenda item for the NCUA’s May Board Meeting is a “Notice of Proposed Rulemaking, Part 701, Payday Alternative Loans” This discussion will focus on the following: The NCUA is preparing an amendment to the NCUA’s general lending rule to provide federal credit unions (FCUs) with an additional option to offer Payday Alternative Loans (PALs). This […]

How Do the New CFPB Regulations Impact the QCash Financial Platform and Credit Unions?

What are the new CFPB regulations for small dollar loans and payday lending for credit unions? In late 2017, the Consumer Financial Protection Bureau (CFPB) finalized new regulations for small-dollar loans and payday lending. QCash, a subsidiary of Washington State Employees Credit Union (WSECU), has engaged in conversations throughout the process, including WSECU President & […]

How Do I Update My Payday Loan Truth in Lending Disclosures?

A question I often receive from credit unions involves regulatory concerns in operating payday loan truth in lending requirements. Credit Unions often want to know how small dollar loan Truth in Lending disclosures are updated and maintained in our Digital Lending Platform.   If you have this concern – then this article is for you! First – […]

Will My Credit Union Maintain CFPB Compliance with the QCash Short-Term, Small Dollar Lending Platform?

If you are a Credit union interested in the QCash, short-term, small-dollar lending program, and want to make sure that you are meeting CFPB compliance or meeting Consumer Financial Protection Bureau (CFPB) regulations – this post is for you. Here are the three requirements for the QCash short-term, small-dollar lending program to maintain CFPB compliance: […]