FAIRFAX, Va.–Two more credit unions have been hit with proposed class action lawsuits over overdraft fees. In both cases, the plaintiffs are alleging the credit unions processes share drafts out of order in order to maximize fees.
Fresh Today
WASHINGTON–The Senate is in session this week and will consider several bills, at least one of which includes a continuing resolution to fund certain government agencies and functions through Dec. 7.
WASHINGTON—Total retail sales rose for the seventh consecutive month in August, but at a slower pace: August saw 0.1% growth while July's sales growth was revised up to 0.7%.
WASHINGTON—The New York Department of Financial Services (NYDFS) has brought another lawsuit against the Office of the Comptroller of the Currency (OCC) challenging its national charter for fintech companies.
NEW YORK–Ten years after the crash of many of the biggest Wall Street Banks and the onset of the Great Recession, many employees of those banks have seen billions of dollars in payouts, while others have seen almost nothing at all.
DANVILLE, Va.–Police here say they are searching for an employee of a credit union who allegedly embezzled “large amounts of U.S. currency.”
WASHINGTON—The House of Representatives has approved, on a voice vote, the “FinCEN Improvement Act of 2018” (HR 6411), sponsored by Rep. Ed Perlmutter (D-CO).
DALLAS–Jerry Clancy, who has been with Lone Star Credit Union for 50 years, announced he will retire as CEO effective Sept. 30. The credit union has named Becky Reed as the new chief executive officer, effective Oct. 1.
MINNEAPOLIS, Minn.—U.S. Bank has become the first to announce a new small-dollar loan product for its checking account customers following new guidance put forth by the Office of the Comptroller of Currency encouraging banks to offer more short-term, small-dollar loans.
WASHINGTON–CUNA has sent a letter to the Financial Accounting Standards Board (FASB) expressing support for a proposed change to the current expected credit loss (CECL) accounting standard.