The rest regarding the commenters that responded to the concern opposed prohibiting an FCU from charging you overdraft charges pertaining to PALs loans.

The rest regarding the commenters that responded to the concern opposed prohibiting an FCU from charging you overdraft charges pertaining to PALs loans.

into the PALs II NPRM, the Board asked if the NCUA should prohibit overdraft or NSF charges charged Start Printed Page 51949 associated with any PALs loan payments. 1 / 2 of the commenters that responded to the concern replied within the affirmative, arguing that an FCU might use overdraft charges in a predatory way to draw out extra income from a PALs loan debtor. These commenters additionally felt that allowing overdraft charges linked to a PALs loan is contrary to supplying borrowers with a pathway that is meaningful conventional financial loans and services because extra charges may have a devastating effect on the borrower’s monetary health insurance and keep the debtor trapped in a “cycle of debt.”

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