NAFCU has asked that NCUA stop using material from consumeradvocate Suze Orman after Orman launched a prepaid debit card program that has the potential to hurtcredit unions.
|“Ms. Orman recently launched a prepaid debit card product,” theassociation wrote in its Jan. 18 letter. “Ms. Orman has alsoencouraged consumers who are underwater in their homes to walk-awayfrom their mortgage commitments. Given the foregoing, NAFCU believes it is necessary for the agency to carefullyre-examine its use of promotional material featuring Ms. Orman,”the association added.
|NAFCU General Counsel Carrie Hunt acknowledged that the agencyhas said that it would stop using Orman in promotional material forthe fund in August of this year, but said that she did not know whythe agency could not stop using her material earlier.
|She also said the association knew she had publicly advisedconsumers to walk away from underwater mortgages on severaloccasions.
|The agency has not yet commented on NAFCU's letter.
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