You can regulate the money out of the business, but you can’t regulate the personal responsibility out of the consumer. No matter what Washington does to keep credit unions and other lenders from taking advantage of the less well-educated, the desperate and the elderly, ultimately consumers have to take responsibility...
Consumer advocate's push against credit union short-term lenders hurting those they think they're protecting.
The CEO of a federal credit union criticized for making payday loans has strongly defended her institution, arguing the loans help members escape short-term, high-interest debt.
Louisiana FCU charges far less than payday lenders, offering escape not predation, CEO Rhonda Hotard says.