Federal Deposit Insurance Corporation : Each depositor insured to at the very least $250,000 per insured bank Purpose This guidance provides details about payday lending, a specific form of subprime lending, and supplements and clarifies previously given guidance about such programs, like the July 2003 instructions for Payday Lending. 1 It describes security and soundness and compliance considerations for examining and supervising state nonmember organizations which have payday financing programs. This…