WASHINGTON–The Consumer Financial Protection Bureau (Bureau) has released its annual report the Fair Debt Collection Practices Act (FDCPA), which seeks to highlight the continued efforts by the Bureau and the Federal Trade Commission (FTC) to stop unlawful debt collection practices, including vigorous law enforcement, consumer education and public outreach, and policy initiatives.
WASHINGTON—The Department of Justice has opened a civil investigation against the Fair Isaac Corp., provider of the widely used FICO score.
WASHINGTON–A wide number of constituencies, including members of Congress, are now digging into the 880-page, $2-trillion Coronavirus Aid, Relief and Economic Security Act (CARES Act, S.3548) passed by the Senate to determine how the exact language actually reads and how to sort the winners and losers. The legislation is supposed to be voted on in the House today.
WASHINGTON–Five federal agencies, including NCUA, have issued a joint statement urging credit unions, banks and savings associations to offer “responsible” small-dollar loans to consumers and small businesses affected by the coronavirus.
ARLINGTON, Va.—NAFCU President and CEO Dan Berger is urging NCUA to grant credit unions "additional capital flexibility to address the economic crisis" and provide parity with banks in light of the coronavirus outbreak.
LANSING, Mich.–The Michigan league and the state’s credit unions have introduced a series of radio and TV ads as well as digital media designed to reinforce the credit union position of people helping people and the resources and help CUs are making available in the wake of the coronavirus pandemic.
WILLIAMSPORT, Penn.–Horizon Federal Credit Union has implemented “Horizon Cares,” which allows members impacted by this pandemic to defer all loan payments up to 90 days, refinance existing loans with a 90-day payment deferment, waive ATM fees, and increase the limit on mobile deposit.
WASHINGTON—Clear and consistent guidance will be needed from the Small Business Administration (SBA) on the expansion of its 7(a) loan program due to the coronavirus pandemic, CUNA, NAFCU and other organizations told SBA.
ARLINGTON—NAFCU is offering an overview of the latest guidance issued by the Small Business Administration (SBA), along with congressional efforts to refine legislation, which will provide relief for small businesses across the country.
SOMERVILLE, Mass.–Naveo Credit Union has named as its new interim chief executive officer, Albert Pinho.
