In the rare instances when a credit union violates a law or regulation, the mission of the NCUA's Office of Consumer Protection is "not to protect a credit union from its members," but to serve as an advocate for the credit union member.
That's how NCUA Chairman Debbie Matz explained the role of the office in a letter to NAFCU President/CEO Fred Becker.
She noted that in most of the complaints filed with the office so far, the credit union was deemed to have acted properly; and even so, as a goodwill gesture to the member they often reversed the action, such as returning an overdraft fee to a member.
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