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WASHINGTON — During an address last week to the National Policy Meeting of the Hispanic Alliance for Progress Institute, NCUA Vice Chairman Rodney E. Hood touted mainstream financial services providers over predatory lenders.

“Most recent data shows that predatory lending outlets have grown faster than other legitimate, mainstream lenders,” Hood warned. “President Bush said it best when he said that the measure of true compassion is more than good intentions, it is about results. Credit unions are indeed producing results to help people enter the financial mainstream.” He differentiated between “fringe” and “mainstream” financial services providers.

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