Matz: Consumers want overdraft protection

ALEXANDRIA, Va. (11/03/09)—National Credit Union Administration (NCUA) Chairman Debbie Matz, speaking at a recent league chapter meeting, said she supports overdraft protection plans that are carefully done with minimal impact on members, such as limiting the number of transactions and corresponding fees per day.

Having worked at a credit union that offers overdraft protection, she said that she realizes that consumers would not be happy if the service was eliminated. Credit unions can provide a service members want that also is balanced and pro-consumer, she said.

Matz made her remarks last week to credit union representatives attending a Suburban/D.C. chapter meeting of the Maryland & D.C. Credit Union Association.

The league also reported that Matz acknowledged that the NCUA's Region II staffing changes have recently been in flux. She attributed this to needs in other regions, and said it is like "robbing Peter to pay Paul" to shift personnel resources. Matz added that the agency plans to bring Jane Walters back as Region 2 director in March 2010. Walters currently is serving as Acting Regional Director, Region V.

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