NAFCU has asked that the NCUA stop using material from financial advice guru Suze Orman after she launched a decoupled debit card program that could hurt credit unions.
"Orman recently launched a prepaid debit card product," the association wrote in its Jan. 18 letter to NCUA Board Chairman Debbie Matz. "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 letter is only the most visible indication of the stress some credit unions have felt with Orman in the last few months, despite the personal finance celebrity's public stance in favor of credit unions.
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