As Congressional action appears to be looming on overdraft protection, State Employees' Credit Union CEO Jim Blaine and former NCUA Chairman Dennis Dollar engaged in what was described as a "lively and intense" faceoff this week.

In a panel debate during Monday's annual convention of the New Jersey Credit Union League in Atlantic City, the two dueled over the worthiness of the so-called "courtesy" product now getting intense scrutiny from lawmakers and the public following a series of national news articles on the topic.

In comments made later to Credit Union Times,Dollar, ex-regulator and now head of a Birmingham, Ala. consulting firm, defended CU policies in offering what he said is a "real value" to members provided overdraft protections are not abused.

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