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WASHINGTON — The comment period on the Department of Defense’s anti-predatory lending regulation has come to a close and credit union organizations, while supporting its intent offered a plethora of recommendations for improvement.

NAFCU stated that credit unions are not part of the problem, but carve out for federally regulated financial institutions is not necessary either at this time. The group noted that the regulation was sufficiently narrow, but that any loans in compliance with the Federal Credit Union Act and NCUA’s regulations should not be covered. NASCUS added that if such a carve out is implemented, state regulated institutions should also get a carve out.

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