The House Financial Services Committee Thursday approved legislation that would exempt virtually all credit unions from CFPB rules. Voting 30-25, the committee approved H.R. 1264, which would exempt all financial institutions with less than $50 billion in assets from...
Credit Union Industry News & Updates
The Credit Union & Banking worlds are changing faster today than they ever have. Keep informed about what’s going on in the industry.
WHAT’S GOING ON AT CREDIT UNIONS?
NAFCU Sends Cease & Desist Letter to ADA Law Firm
NAFCU is demanding that a California law firm stop sending letters to credit unions contending that they owe legal damages because their websites do not comply with the Americans With Disabilities Act. In a letter to Scott Ferrell and Victoria Knowles of the Pacific...
Reaction: CFPB Revisiting Payday Lending Rules ‘is Unacceptable’
The CFPB’s regulation of payday lenders always has provoked heated arguments on both sides of the issue and the agency’s Tuesday announcement that it may reconsider its rule restricting lenders again fanned those flames. “Republicans are once again...
Workers Want More Help in Finance Than Employers Think They Should Provide
Two studies from Alight Solutions indicate that there’s a disconnect between how much financial help workers think they should be getting from their employers and how much help those employers think they should give. According to the 2017...
U.S. Biometric Payment Card Market Trial, Secure Tech Alliance Agenda Announced
Swedish-based Precise Biometrics’ algorithm solution for fingerprint recognition is part of the first market trial of dual interface biometric payment cards with $7 million West Jordan, Utah-based Mountain America Credit Union. The payment card trial, carried...
Former CU Employee Suspected of Embezzlement, Robbing CU & Three Banks
A former employee of the $2.9 billion Travis Credit Union, and embezzlement suspect, is also an FBI suspect for robbing a credit union and three other banks about a month after he quit his job at the Vacaville-Calif.-based TCU. The FBI arrested Corey Johnson, 31, of...