WASHINGTON– The Federal Deposit Insurance Corporation (FDIC) has announced the selection of three teams in a “sprint” designed to explore new technologies and techniques to help community banks, and the banking sector as a whole, evaluate how well they can withstand a major disruption of any type.
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WASHINGTON–JPay, a provider of financial services to prisoners, has been hit with a $6 million fine by the Consumer Financial Protection Bureau (CFPB) for violating the Consumer Financial Protection Act (CFPA).
JACKSONVILLE, Fla.— VyStar Credit Union is the latest to offer a service that allows members to be paid up to two days sooner when they link their VyStar checking or savings account with a direct deposit payment.
LANSING, Mich.–Michigan’s credit unions are reporting membership gains during the second quarter of this year.
CINCINNATI–Fifth Third Bancorp continues to move forward with plans to close more than 80 branches, even as it expands its branch presence in certain markets.
ARLINGTON, Va.—Credit union leaders’ confidence in the economy and their own CUs improved in September, largely to levels seen prior to the health crisis, according to NAFCU’s latest Credit Union Sentiment Index (CUSI).
ARLINGTON, Va.–A demand by the CFPB that the big tech companies provide information on how they use personal payments data and more is a “positive step,” according to NAFCU.
ARLINGTON, Va.–A significant change in a plan before Congress to lift to $10,000 from $600 the threshold at which financial institutions would have to report transactions to the Internal Revenue Service has done nothing to change NAFCU’s opposition to the proposal.
WASHINGTON–Both credit union trade associations will be joining numerous other constituencies in watching the first appearance before Congress of the CFPB’s new director, Rohit Chopra.
NORTH LIBERTY, Iowa—The $8-billion GreenState Credit Union here has agreed to purchase $411-million Midwest Community Bank, based in Freeport, Ill., and its subsidiary, Blueleaf Lending, LLC.