RALEIGH, N.C. — “I would say that our biggest competitor is the whole panoply, the whole arcade of for-profit financial institutions,” said Jim Blaine, CEO of the $15 billion State Employees’ Credit Union, the second largest credit union in the country and headquartered in the same state as Bank of America.

“Everything from payday lenders to cash advance loan places to title loan places to mortgage lenders and savings banks and stock banks,” Blaine said. “But even more than those institutions, we really compete with a mentality that more or less profit at any price and the devil take the consumer. We struggle to promote an outlook which puts our member consumers in the most important spot.”

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