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

The rest regarding the commenters that responded to the relevant 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 webpage 51949 associated with any PALs loan payments. 50 % of the commenters that responded for this concern replied when you look at the affirmative, arguing that an FCU might use overdraft charges in a predatory way to draw out extra revenue from a PALs loan debtor. These commenters additionally felt that allowing overdraft costs linked to a PALs loan is as opposed to supplying borrowers having a pathway that is meaningful mainstream financial loans and solutions because extra costs may have a devastating effect on the debtor’s economic health insurance and keep the borrower caught in a “cycle of debt.”