WASHINGTON—The operators of an alleged credit card interest rate reduction scam will be permanently banned from the debt relief industry as part of court orders resolving charges by the Federal Trade Commission and the Florida Office of the Attorney General, the FTC announced.
Fresh Today
WASHINGTON—The Federal Housing Finance Agency (FHFA) has published a final rule to amend the Enterprise Regulatory Capital Framework (ERCF).
WASHINGTON–The Expanding Financial Access for Underserved Communities Act (H.R. 7003) has been introduced by House Financial Services Committee Chair Rep. Maxine Waters (D-CA).
ARLINGTON, Va.—Total consumer credit rose 1.9% at a seasonally adjusted annualized rate in January, and is up 6.2% compared to a year ago. Credit union share of the market declined slightly over the last year.
WASHINGTON—President Joe Biden has signed an executive order on government oversight of cryptocurrency that urges the Federal Reserve to explore whether the central bank should jump in and create its own digital currency and to further examine the risks and benefits of cryptocurrencies.
AUBURN HILLS, Mich. – Genisys Credit Union has renewed its partnership with Co-op Solutions and also added access to Zelle and Co-op Insights Center.
WASHINGTON – The Merchants Payments Coalition is again calling on Congress to “investigate” what it is calling Visa and Mastercard’s “anticompetitive dominance” over the U.S. credit and debit card markets.
MADISON, Wis.—The Worldwide Foundation for Credit Unions (WFCU) is reporting it has collected more than $115,000 to date in donations to its Ukrainian Credit Union Displacement Fund.
ALEXANDRIA, Va.–Changes that added components to NCUA’s examination rating system to account for a credit union’s sensitivity to market risk—the new S in CAMELS—and that redefine the system’s definition of liquidity risk have been outlined in a new Letter to Credit Unions from the agency.
ALEXANDRIA, Va.–NCUA will host a webinar on March 23 on overdraft protection programs and their fee structures (on which it has said it will be giving more scrutiny), public views of the services, and market changes.