WASHINGTON—People and families who come in contact with the criminal justice system face financial challenges in an ecosystem that is “rife with burdensome fees and lack of choice and where families are increasingly being forced to shoulder the costs,” according to a new report from the CFPB.
Fresh Today
MADISON, Wis.—The Worldwide Foundation for Credit Unions has introduced Communities of Caring, a new initiative that is seeking to collect stories for a book about the diverse group of people who have benefited from the help of credit unions worldwide.
REDWOOD CITY, Calif.–My Credit Union is reporting it has completed its merger into San Francisco FCU.
WASHINGTON—NAFCU and CUNA have joined with other trade associationsin responding to the Federal Communications Commission’s (FCC) order allowing terminating telephone service providers (TSPs) to continue using current call blocking notifications and inviting comment on how the FCC should proceed.
LONDON—Britain's payments regulator has fined five payments companies, including Mastercard, a total of 33 million pounds ($45.01 million) for “cartel behavior” involving prepaid cards issued to vulnerable people on welfare benefits.
DOYLESTOWN, Penn.—An increasing number of consumers are using mobile payment apps and owning cryptocurrency, a new report reveals.
ALBANY, N.Y.— New York’s Senate has confirmed Adrienne Harris to lead the New York Department of Financial Services. Harris has been serving as the acting superintendent of NYDFS since her nomination in August.
WASHINGTON—During the fourth quarter of 2021 the nation’s banks reported they eased standards and terms on commercial and industrial (C&I) loans to borrowers of all sizes, while a “significant net shares of banks expected a deterioration in the quality of credit card loans to prime and nonprime borrowers and of auto loans to nonprime borrowers; according to the Federal Reserve’s just-released January senior loan officer opinion survey (SLOOS).
HARAHAN, La.–A federal judge has ruled the Treasury Department was right when it ordered OnPath FCU to repay more than $12 million in CDFI funds, finding Treasury’s request meets the criteria of the Administrative Procedure Act.
DENVER/SEATAC, Wash.–The Mountain West Credit Union Association—which represents credit unions in Arizona, Colorado and Wyoming—and the Northwest Credit Union Association—which represents credit unions in Oregon, Washington and Idaho—have signed a letter of intent with plans to merge.