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GreenPath to offer enhanced CARD Act service for CUs
MADISON, Wis. (6/9/11)--GreenPath Debt Solutions will introduce an enhanced version of a 2010 Credit Card Accountability, Responsibility and Disclosure (CARD) Act compliant phone service that includes a message branded for credit unions and real-time reporting. “We have had a great relationship with GreenPath for more than five years,” said Jim Hanson, vice president of consumer publishing at Credit Union National Association (CUNA). “Improving members’ financial standing helps them to improve their practices, and this can help them to more successfully apply for mortgages and other credit union products.” GreenPath will also provide a free credit-counseling phone service to help credit unions meet regulations set by the CARD Act. “GreenPath is a long-standing credit union supporter, and we wanted to find an affordable way to help credit unions stay compliant with the CARD Act,” says Thomas Butler, director of finance at GreenPath Debt Solutions, which is a CUNA Strategic Services provider. In accordance with the CARD Act, credit card providers must provide specific information to cardholders on their statements about accessing credit counseling services. Credit unions now can use information about GreenPath’s toll-free credit-counseling phone service on their statements. The GreenPath toll-free number will provide credit union members with access to three National Foundation for Credit Counseling (NFCC) providers. A CUNA Strategic Services case study released in 2010 revealed that members are desperately seeking help to deal with debt and that linking members to help before they lose hope is crucial to constructing debt management plans. GreenPath Debt Solutions is a nationwide, non-profit financial organization that assists consumers with credit card debt, housing debt and bankruptcy concerns.
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