"It adds to the cost which goes to the sustainability of the product," says the American Bankers Association's Nessa Feddis. "Either costs go up or the product gets eliminated."

New Regs Could Wipe Out Bank Payday Loans

Facing strict new guidelines on deposit-advance loans, banks must now decide if it's worth their while to offer short-term credit to cash-strapped borrowers.

To continue, please log in, register or subscribe.
Already a subscriber? Log in here
Please note you must now log in with your email address and password.

Already a subscriber? Log in here
Please note you must now log in with your email address and password.