BROOKLYN, N.Y.—Problem taxi medallion loans caused Bay Ridge Federal Credit Union here to post a loss for the first quarter of 2018. The loss pushed the credit union into undercapitalized territory.
Fresh Today
WASHINGTON—The Federal Trade Commission has charged a mortgage relief operation with deceiving distressed homeowners by falsely promising to make their mortgages more affordable and prevent foreclosure. A federal court temporarily halted the scheme and froze the defendants’ assets at the FTC’s request.
WASHINGTON—The Treasury Department has re-upped rules meant to crack down on money laundering in real estate.
AUSTIN, Texas–Credit union leaders thinking about the evolution of their own roles and how the credit union will need to change and how to reinvent the experience for the member need to understand they are NOT competing in a “digital age.”
ALEXANDRIA, Va.—The NCUA board Thursday will consider a final rule on involuntary liquidations and will also issue a notice of proposed rulemaking related to payday alternative loans (PALs).
WASHINGTON–The House Financial Services Committee (HFSC) is expected to mark up a bill this week that would make changes to the Committee on Foreign Investment in the U.S. (CFIUS), a Treasury-led panel that approves foreign-owned merger and acquisition activity.
WASHINGTON–Time has run out for passage of a Congressional Review Act resolution that would roll back Bureau of Consumer Financial Protection restrictions on payday lenders.
DES MOINES, Iowa–Iowa’s largest credit union said it is considering a name change as the result of language that appears in legislation passed by the state’s legislature.
MADISON, Wis.–A lawsuit has been filed against Summit Credit Union here that alleges it has improperly charged overdraft fees on some members.
SAN FRANCISCO–New allegations of abusive practices by Wells Fargo have emerged, this time in its business banking services.