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Loan Sharks' Auto Device

I read your article about auto starter interruption devices in the July 8 issue of the Credit Union Times and assume this is a paid advertisement.

I read your article about auto starter interruption devices in the July 8 issue of the Credit Union Times and assume this is a paid advertisement. You titled the article “Credit Unions Are Warming Up to Auto Starter-Interruption Devices,” but only listed one credit union that is actually using the device. Other credit unions that you mentioned still showed skepticism. Your subtitle best describes what this product is about, “Your Car May Be Knee-Capped.” Using such a device is the same mentality used in the era of unregulated lending of the early 1900s. If you made a loan to an unqualified borrower and they didn’t pay, you sent a couple of oversized collectors with baseball bats. This is a program for small loan companies that specialize in high-risk, high-rate lending tactics that credit unions would best steer clear of.

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Peter Westerman

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