WASHINGTON—Although it was not included in the version of the Build Back Better Act passed by the House last month, NAFCU has sent a letter to Senate Majority Leader Chuck Schumer (D-NY) and Senate Minority Leader Mitch McConnell (R-KY) reiterating “major concerns” around the proposed IRS reporting requirement.
Fresh Today
CHICAGO— A year after many banks were forced to tighten their lending requirements at the height of the pandemic—leading to a reduction in new card approvals—much has changed.
WASHINGTON – Advocates at the National Consumer Law Center are applauding District of Columbia Attorney General Karl Racine’s announcement that the District has reached a settlement with what it referred to as a “predatory rent-a-bank lender,” OppFi, which requires it to abide by the District’s interest rate limits and to provide over $2 million in relief to wronged consumers.
WASHINGTON–The Federal Financial Institutions Examination Council (FFIEC), of which NCUA is a member, has released one new section and updates to three sections of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual.
WASHINGTON–New debt collection rules from the Consumer Financial Protection Bureau have now gone into effect, with the agency reminding there are five key issues credit unions and other institutions need to be giving attention.
WASHINGTON – Banks continue to rely heavily on overdraft and non-sufficient funds (NSF) revenue, which reached an estimated $15.47 billion in 2019, according to new research released by the Consumer Financial Protection Bureau (CFPB).
WASHINGTON–The Small business Administration’s Economic Injury Disaster Loan program improperly sent nearly $3.7 billion to recipients prohibited from receiving federal funds, according to a new government audit.
AURORA, Colo.–Aurora Federal Credit Union has named a new president and CEO.
WASHINGTON—Effective in 2022, home buyers in high-cost areas of the country will be able to borrow close to $1 million for a mortgage loan backed by the government.
BALTIMORE—One credit union that outsourced its indirect auto lending business says it views dealerships as branches of the credit union.