Bill Permits Payday Alternative.(new Washington state law on financial institutions)(Brief...

Washington Gov. Gary Locke signed a bill into that gives Washington financial institutions parity to national banks and allows all state-charted credit unions to charge interest rates at an amount equal to the interest rate that a national bank, located anywhere in the U.S., could charge a Washington consumer. In short, the bill allows credit unions here to provide an alternative to payday lenders.

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