ARLINGTON—If a credit union is hit with an overdraft class action lawsuit, what might it expect? As CUToday.info has reported, numerous credit unions have been hit with class action suits over their overdraft policies, including by law firms specializing in such suits. Now, NAFCU Vice President of Regulatory Compliance Brandy Bruyere is providing some high-level information to help CUs prepare in case the wave of overdraft suits impacts their organization.
RENO, Nevada–A University of Nevada student has won a year’s worth of free tuition courtesy of a local credit union and his own basketball shooting abilities.
LONDON—Existing securities rules could apply to "stablecoin" digital currency initiatives such as Facebook's Libra project to help realize its benefits as policymakers examine whether new regulation is needed, according to the global securities watchdog, the International Organization of Securities Commissions (IOSCO).
TYLER, Texas—Credit unions are being urged to talk to their vendors after a U.S. District Court jury awarded USAA $200 million in a patent infringement lawsuit against Wells Fargo involving remote deposit capture (RDC).
WASHINGTON—Outstanding consumer credit grew at credit unions during September, albeit at a slower pace, according to the Federal Reserve.
TUSCALOOSA, Ala.—A high-profile lawsuit by a former credit union CEO against the governor of Alabama and his legal advisor has been dismissed after four years in the courts.
TYSONS, Va.–With Veterans Day here, the PenFed Foundation has released a study highlighting the best cities for veterans to start and grow their businesses in the U.S.
NORTH CHESTERFIELD, Va.–Two Virginia credit unions have announced a merger. The $90-million Chesterfield Federal Credit Union said it plans to merge into the $3.7-billion Virginia FCU.
WASHINGTON– A coalition of 61 consumer, civil rights, and community groups today sent letters to three federal bank regulators urging them not to allow their banks to help payday lenders evade state interest rate limits via so-called “rent-a-bank” schemes.
OLEAN, N.Y.–To mark hitting the $300 million in assets threshold, Olean Area FCU is paying out a $1 million dollar “special member dividend” to reward members for their participation.
