BEIJING, China—China’s central bank has fined Alipay CNY$4.12 million (approximately USD$601,459) for violating payment service regulations.
Fresh Today
SACRAMENTO, Calif.–California’s Supreme Court has ruled that interest rates on consumer loans can be so high that they become “unconscionable” and, therefore, illegal.
AUSTIN, Texas–There are now just three weeks left to make sure you are a part of a low-priced, one-of-a-kind meeting opportunity among credit unions that are seeking to not merge, but instead grow and prosper in 2019 and beyond.
WASHINGTON—The FBI is warning financial institutions of a worldwide ATM cash-out scheme expected to happen in the coming days.
FT. LAUDERDALE, Fla.—A study by two professors at Nova Southeastern University has found underserved households are less, not more, likely to enjoy the services of credit unions, according to analysis by Keith Leggett.
WASHINGTON—President Donald Trump has signed the fiscal year 2019 National Defense Authorization Act (NDAA), which does not include language that could have disadvantaged CUs serving members on military bases.
WASHINGTON—The Federal Reserve has levied an $8.6-million fine against Citigroup over its handling of residential mortgage-related documents, specifically the way its subsidiary CitiFinancial executed and notarized certain mortgage-related affidavits.
MIAMI–Citing lower costs and fewer hassles, Dade County FCU said it is outsourcing its new ATMs to Dolphin Debit.
TYSONS, Va.—PenFed Credit Union said it has entered into a partnership with Sallie Mae to offer free college planning tools and a full suite of financing options to help PenFed members responsibly pay for college.
PHOENIX—Arizona has launched the first U.S. “fintech sandbox.”