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Overdraft Protection: Can We Be Trusted?

Extraordinary rendition and credit union "Courtesy Overdraft" programs have two things in common. First, it takes some pretty tortured logic to justify both practices; and, one usually shouldn't place too much confidence in "testimonials" resulting from twisted arms or from twisted consciences.

By Staff Writer | Updated on October 23, 2007

Extraordinary rendition and credit union “Courtesy Overdraft” programs have two things in common. First, it takes some pretty tortured logic to justify both practices; and, one usually shouldn’t place too much confidence in “testimonials” resulting from twisted arms or from twisted consciences.

Credit Union Times editor Paul Gentile mucked around in the “Bounce Protection” quagmire in his October 10, 2007 op-ed piece. It’s an article well worth reading if you aren’t familiar with the difficult contradictions that “Privilege Pay Overdraft” schemes pose for credit unions. Rarely do purpose and practice so visibly collide. Rarely has the difference between what credit unions preach and what credit unions practice been so clearly held in the balance.

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