# Payday Alternative Loans
> **US National Credit Union Administration** · Final rule. · Published 2019-10-01 · Effective 2019-12-02 · 84 FR 51942
## Document
- **Document number:** 2019-20821
- **Category:** final-rule
- **Agency:** US National Credit Union Administration
- **Federal Register citation:** 84 FR 51942
- **CFR reference:** 12 CFR 701
- **Publication date:** 2019-10-01
- **Effective date:** 2019-12-02
## Abstract

The NCUA Board (Board) is issuing a final rule (referred to as the PALs II rule) to allow federal credit unions (FCUs) to offer additional payday alternative loans (PALs) to their members. The final rule does not replace the NCUA's current PALs rule (referred to as the PALs I rule). Rather, the PALs II rule grants FCUs additional flexibility to offer their members meaningful alternatives to traditional payday loans while maintaining many of the key structural safeguards of the PALs I rule.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/2019/10/01/2019-20821/payday-alternative-loans)
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