WASHINGTON—The U.S. Securities and Exchange Commission has charged three financial services companies for failing to uphold cybersecurity procedures, which resulted in the exposure of thousands of customers' personal information.
Fresh Today
WASHINGTON—As the House Ways and Means Committee proceeds with its portion of the budget reconciliation process, both credit union trade groups are seeking to have language excluded that would enact a reporting requirement for all financial institutions to report all annual account inflow and outflow of $600 or more to the IRS.
WASHINGTON—The Federal Reserve's latest Beige Book reveals the U.S. economy downshifted slightly to a moderate pace in early July through August.
WASHINGTON–NCUA Board Member Rodney Hood told a group meeting here it is time for federal action to “clarify and harmonize” the laws and regulations surrounding the state-legal cannabis industry and marijuana-related businesses (MRB), so that this industry can “take part in the legitimate financial services industry.”
WASHINGTON–After what was a “record-setting year” for credit card debt reduction in 2020, U.S. consumers have set a new quarterly record after adding new credit card debt “by the billion,” according to a new analysis.
WASHINGTON—NAFCU wrote to the Federal Reserve in response to its proposed amendments and modifications to Regulation J pertaining to the release of the FedNow service to offer support for the development of the service.
WASHINGTON—The Small Business Administration (SBA) has published an interim final rule (IFR) to amend the regulations governing disaster-related economic injury disaster loans (EIDL) and COVID EIDL loans. The changes made by the IFR are applicable to any EIDL loan made on or after Sept. 8.
AUSTIN, Texas–The $95-million Texas DPS Credit Union has launched eCU Technology’s ORIGINS Suite, which the company said is designed and newly-updated to help credit unions become “digital powerhouses.”
JACKSON, Miss.–Hope Enterprise Corporation, an affiliate of HOPE Credit Union, is reporting its investments in projects using federal New Markets Tax Credits (NMTC), a Treasury Department program geared to increase economic development in under-resourced communities, are projected to generate $5.1 billion in private sector investment over the next 20 years.
WASHINGTON—The Consumer Financial Protection Bureau has taken action against an income share agreement (ISA) provider for mispresenting its product and failing to comply with federal consumer financial law that governs private student loans.