Success will not be tolerated!

Being an audit member of a credit union, I saw first hand what the effects of loaning money to high risk borrowers causes. This happened when the Credit Union opened a new branch and was looking to add members quickly. The result was relaxed lending standards, to entice loans.

If someone has bad credit...they have bad credit for a reason. Simple.

If someone is truly interested in raising their credit score, it can be done. It won't happen overnight, though. But then again....someone destroying their credit does not happen overnight either.

The result of bad lending practices at the credit union caused major issues that became evident within 3 months of loan origination and took another 24-36 months to resolve.

The CU was subjected to serious scrutiny by the NCUA for about 18 months while they scrambled to collect bad debts and vastly increase allowances for loan losses. The CU president was fired.

Its not a fun process, however, the CU learned its lesson.

I tire of hearing bleeding hearts stick up for deadbeats who are looking for a free ride.

One thing the US guarantees is the opportunity for self determination. Opportunity only.

This bank president should continue to operate the way he always has.

Obviously the FDIC is full of idiots if after all the US Banking system has gone through, they still push to make loans to high risk borrowers.