PHILADELPHIA– A new analysis by The Pew Charitable Trusts has found consumers could save more than $2 billion a year as a result of five of the country’s largest banks—Bank of America, Wells Fargo, U.S. Bank, Truist, and Regions Bank—announcing they are eliminating nonsufficient funds (NSF) fees and making major changes to their overdraft programs.
WASHINGTON–JetStream FCU CEO Jeanne Kucey told a Senate Banking Committee hearing credit unions that are CDFIs and MDIs play strong roles in their communities and could accomplish even more if Congress would provide expanded powers.
NEW YORK—Bankruptcy filings declined when the coronavirus pandemic began in March 2020 as revolving credit balances sharply dwindled. Although revolving credit balances have abruptly risen in 2021, bankruptcy filings have continued to steadily fall.
AUSTIN, Texas– Amplify Credit Union has launched fee-free banking, saying its members now pay zero fees on checking, savings, and business banking accounts. The $1.3-billion Amplify said that includes no account maintenance fees (regardless of balance), no fees for overdraft protection, and no wire transfer fees.
ARLINGTON, Va.—Total consumer credit rose 5.1%, at a seasonally adjusted, annualized rate in December and is up 5.9% compared to a year ago.
PALM COAST, Fla.–Enjoying the CUToday.info daily headlines email? Act Now, as you have until March 7 to re-register for the email in order to ensure continued delivery.
WESTBROOK, Maine.– The 2021 Maine Credit Unions’ Campaign for Ending Hunger raised $930,367.80 during 2021, according to the Maine Credit Union League.
WASHINGTON—Ahead of this week’s Senate Agriculture, Nutrition, and Forestry Committee hearingon digital assets, NAFCU and CUNA each sent letters to the committee addressing credit union concerns regarding cryptocurrency.
WASHINGTON—The U.S. Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA) has issued two alerts addressing risks from Russian State-Sponsored cyber threats and highlighting recent malicious cyber incidents suffered by public and private entities in Ukraine.
WASHINGTON – The National Consumer Law Center is applauding District of Columbia Attorney General Karl Racine’s announcement that the District has reached a settlement with “predatory rent-a-bank lender” OppFi that requires it to abide by the District’s interest rate limits and to provide over $2 million in relief to wronged consumers.
