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In the event that you’ve been waiting for the return of the popular pay day loan alternative, don’t hold your breathing.

Deposit advances when had been made available from banking institutions like Water Water Wells Fargo and Fifth Third Bank. Like payday advances, they covered people that required fast money in crisis situations and charged high rates of interest in exchange.

Whenever strict tips made deposit advance loans virtually impractical to offer, banking institutions dropped them in 2014.

Fast ahead to 2017. One regulator has tossed down its guidance, permitting banks that are national bring deposit improvements straight straight back through the dead. But an innovative new payday lending rule could well keep them from building a comeback. Read more »