Payday lending, DACA, cannabis business banking and the NCUA's budget increase were at the center of reader's comments on cutimes.com this past week. Here's what they had to say.
"CFPB Putting a Stop to 'Payday Debt Traps' With New Rule," Oct. 5
The only reason most CUs qualify as "payday alternative loans" is that they can only meet a fraction of the demand for payday loans without going broke. There's no question CUs offer a better product; the only issue is the scale of making loans like these to everyone who needs it. Let's face it, this is an expensive undertaking!
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sharproot
"CU Leaders Hope Trump Proposal Leads to New DACA Protections," Oct. 10
What's wrong with these so-called credit union "leaders" who want our country overrun by illegal aliens. We are a country of laws, and these "leaders" need to understand we have a Constitution. Good grief, get a grip! DACA illegal aliens must be held accountable to the law.
WVF
"Colorado Credit Union Sues Federal Reserve Bank," Oct. 16
The social movement to legalize cannabis deserves to coalesce our funds to end this government overreach. It's time for common sense to prevail.
Mark Goldfogel
"Hensarling Commends DeVos for Refusing to Work With CFPB," Oct. 16
DeVos and Hensarling are the people who need to be fired … 50,000-plus complaints to the CFPB and $750 million returned to borrowers? People should be looking at their connections to these loan servicers. Why else would these two want the CONSUMER Financial PROTECTION Bureau to be kept from doing their job – protecting consumers! It's further evidence that Wall Street and Big Pharma continue to call the shots. Draining the swamp my a#%!
Robin H.
"NCUA Officials Defend Budget Increase," Oct. 18
So regulations and the economy have caused the number of credit unions in the U.S. to shrink drastically in the last 10 years, but the budget of the NCUA goes up every year for 10 years to regulate fewer credit unions?
RS
"NCUA Board Seeks Comment on CU Capital Reporting, Stress Tests," Oct. 19
The NCUA has misled credit unions by suggesting that a 7% capitalization is good. I'm of the opinion that the number should be closer to 10%.
WVF
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