X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

I would like to respond to Mr. Cary Anderson’s letter to the editor regarding payday lenders. I contacted Mr. Anderson this morning and discussed the letter that he wrote and appeared in the April 4th edition. I made Mr. Anderson aware that New Mexico Credit Unions had no part in the payday lending bill. The only role the Credit Union Association of New Mexico played was to monitor the situation very closely to make sure that any legislation under consideration did not include credit unions. We were successful in that effort since the bill exempts credit unions. Mr. Anderson’s observations of New Mexico credit unions helping to write the bill are absolutely erroneous. We were not involved in the drafting or final version of the compromise bill that passed the House and Senate. The association’s position on payday lending is that we do not support any lending practice that intentionally targets any disadvantaged borrower. We as an association state our position and then work to protect the interests of all our member credit unions.

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.