Waiver helps UK credit unions take on payday loan providers

Waiver helps UK credit unions take on payday loan providers

LONDON (Reuters) – An innovative new style of loan insurance coverage may help Britain’s credit unions simply simply simply simply take on payday loan providers recharging sky-high prices and get a way to plugging a security space kept by the country’s worst-ever scandal that is mis-selling.

Cuna Mutual, the world’s biggest credit union insurer, is working together with British loan providers to offer a ‘debt waiver’ facility for borrowers which ensures they don’t have to produce repayments on loans when they fall sick or lose their jobs. (mehr …)