WASHINGTON—The operator of a mobile banking app will be banned from offering such services and must give full refunds to users as part of a settlement with the Federal Trade Commission over allegations the company falsely promised users they would have “24/7” access to their funds and earn high interest rates on their accounts, the FTC said.
Fresh Today
NEW YORK–What will the post-pandemic work environment look like? Some experts are now weighing in with a few predictions, according to one new report.
HARRISBURG, Penn.–In support of Earth Day on April 22, PSECU has launched what it is calling a “Bank Green” initiative designed to encourage members to use environmentally friendly digital tools and services.
WASHINGTON–Same Day ACH payments have been enhanced with a new $1 million per transaction limit for members of Nacha.
WASHINGTON—The Conference of State Bank Supervisors (CSBS) announced 13 nationwide payments firms have undergone or are currently undergoing their single comprehensive exams in the first quarter of 2021 as part of the One Company, One Exam program.
PHILADELPHIA–Police and Fire FCU has been named the “top-performing” credit union in the U.S. in a ranking by S&P Global Market Intelligence that ranked the top 100 CUs with assets of more than $100 million.
WASHINGTON—The Consumer Financial Protection Bureau is warning mortgage servicers to take all necessary steps now to prevent a wave of avoidable foreclosures this Fall.
ALEXANDRIA, Va.– NCUA Chairman Todd Harper is encouraging credit unions and their members to utilize the agency’s many financial literacy resources during National Financial Capability Month, which runs throughout April, as well as throughout the year. The agency said it will also be partnering with the FDIC to host a webinar on financial literacy later this month.
MIAMI–South Florida Educational Federal Credit Union has rebranded itself. The $1.5-billion CU said it is now operating as EdFed.
WASHINGTON—Representatives of NAFCU, along with NAFCU-member CUs that included Truliant FCU, Acclaim FCU, Allegacy FCU, and Piedmont Advantage, held a meeting with House Financial Services Committee Member Rep. Ted Budd (R-NC).