Some credit unions are still making small value, short term loans that they say are not payday loans, but really they still are, according to a report developed by the National Consumer Law Center.

"Too many providers of so-called payday loan alternatives hit consumers with some of the same onerous provisions that predatory lenders use to saddle unwary and vulnerable borrowers with loans they can't afford to repay," said Lauren Saunders, managing attorney of NCLC's Washington office and principal author of the report.

NCLC researchers reviewed hundreds of small loans. "Many genuine payday alternatives are in the market, but some products are nearly as bad as or even worse than payday loans," said Leah Plunkett, the report's co-author. "Cash advances offered to checking account holders by Wells Fargo Bank, U.S. Bank and Fifth Third Bank are payday loans, plain and simple – triple digit loans repaid on the next payday."