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Credit Union Times’ recent report about a letter sent by NCUA Board Chairman Debbie Matz to the National Consumer Law Center and the Center for Responsible Lending led me to question the agency’s priorities. I continue to be puzzled by why the NCUA, and especially Matz, expends so much energy on a credit union business practice that isn’t even a blip on the credit union lending radar screen. Although it was certainly appropriate for the NCUA chairman to respond to these strident consumer activist organizations’ complaints, combating payday lending, contrary to what the chairman implies, is not mandated by the Federal Credit Union Act and has very little to do with safety and soundness.

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