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Lawsuits that accuse credit unions of predatory overdraft practices may seem as if they intend to protect consumers, but at their core they are “just about playing the system,” CU*Answers CEO Randy Karnes told Credit Union Times.

Such lawsuits, like those filed June 22 against three large California credit unions, do little to help those who overdraft their accounts, but are helpful to lawyers in search of paperwork settlements, said Karnes, whose Grand Rapids, Mich., CUSO serves about 185 credit unions with core processing and a variety of other services.

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