WESTBROOK, Maine–The Maine Credit Union League has announced the results of its election for board officers.
Fresh Today
ALEXANDRIA, Va.—The U.S. District Court for the Eastern District of Virginia has dismissed a class action lawsuit related to the Military Lending Act's (MLA) exception for motor vehicles. Among the points in the decision, the court determined Guaranteed Auto Protection (GAP) insurance is directly related to the purchase of a vehicle loan.
MOUNTAIN VIEW, Calif.—Google has launched international money transfer partnerships with remittances firms Wise and Western Union Co for users of its U.S. payments app, the companies said.
WASHINGTON—The operators of a student loan debt relief scheme have been banned from providing debt relief services and have agreed to settle Federal Trade Commission charges that they collected illegal upfront fees and falsely promised to lower or even eliminate consumers’ loan payments or balances, the FTC reported.
NEWPORT BEACH, Calif.–In the wake of congressional testimony by NCUA Chairman Todd Harper calling for the agency to be given supervisory oversight authority over third-party vendors to credit unions, the National Association of Credit Union Service Organizations (NACUSO) is calling such a regulatory expansion a “concern” and saying the agency lacks the “expertise” to do so.
WASHINGTON–President Biden has issued an executive order that directs federal agencies to launch or expand efforts to analyze and lessen economic risks stemming from climate change.
PHILADELPHIA – The former CEO of a credit union management company, whose actions have been blamed for the failure of six credit unions, has been sentenced to prison and ordered to pay restitution as the result of an embezzlement.
ARLINGTON, Va.–Relief provided to credit unions under a recent interim final rule from NCUA is helpful, but there are additional relief steps that can be taken to help larger credit unions as they scramble to prepare for enhanced supervisory requirements, NAFCU told the agency.
WASHINGTON–Fed Chairman Jerome Powell has released a new video in which he said the Federal Reserve is studying technological advances in the global payments landscape and exploring ways that it might refine its role as a core payment services provider and as the issuing authority for U.S. currency.
SNELLVILLE, Ga.–The African-American Credit Union Coalition (AACUC) is being featured in The New York Times Black Wall Street virtual storefront, which starts May 25.