“Ms. Orman recently launched a prepaid debit card product,” the association wrote in its Jan. 18 letter. “Ms. Orman has also encouraged consumers who are underwater in their homes to walk-away from their mortgage commitments. Given the foregoing, NAFCU believes it is necessary for the agency to carefully re-examine its use of promotional material featuring Ms. Orman,” the association added.
NAFCU General Counsel Carrie Hunt acknowledged that the agency has said that it would stop using Orman in promotional material for the fund in August of this year, but said that she did not know why the agency could not stop using her material earlier.
She also said the association knew she had publicly advised consumers to walk away from underwater mortgages on several occasions.
The agency has not yet commented on NAFCU's letter.