WASHINGTON—The CFPB is suing TCF National Bank for allegedly “tricking” consumers into costly overdraft services, and further alleging the bank’s CEO named his boat “Overdraft” and that parties were held when the FI reached overdraft “milestones.”
Fresh Today
WASHINGTON—Another strong year for lending is ahead for credit unions, according to CUNA’s Economic and Credit Union Forecast, which predicts double-digit loan growth in 2017.
WAIKOLOA, Hawaii–Credit union board members gathered here were offered some pointers on how to put themselves and the boards they belong to under the microscope.
WASHINGTON—The Consumer Financial Protection Bureau announced that it is suing the nation’s largest servicer of both federal and private student loans for “systematically and illegally failing borrowers at every stage of repayment.”
SAN FRANCISCO–As it continues to suffer a decline in retail business following revelations of bogus account openings, Wells Fargo has announced it will close 400 of its branches by the end of 2018.
NEW HAVEN, Conn.– After issuing fewer than 80 regulatory changes in each of the first three quarters of 2016, financial regulators concluded 2016 by introducing 115 regulatory changes in the fourth quarter, according to a new analysis.
RICHMOND, Va.–Workers at one company here will be dipping their Oreos at a new credit union.
CHICAGO—Delinquency rates for credit cards and auto loans are expected to increase in 2017, but the rise should not be considered a serious warning sign—yet, according to a new report.
WASHINGTON—Credit card companies correctly predicted the Federal Reserve’s December rate hike, with the average APR for new offers rising 18 basis points in anticipation of the move and another 13 basis points afterward.
WESTBROOK, Maine–Infinity FCU here is reporting it saved members at least $1.22 million in interest and fees through loan refinancings during 2016.