NEW YORK—The National Federation of Community Development Credit Unions (Federation) and Neighborhood Trust Financial Partners (NTFP) have launched Pathways to Financial Empowerment, a new initiative to support financial counseling in credit unions serving low-income consumers.
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ALEXANDRIA, Va.—NCUA has launched a webpage that allows CUs to send suggestions to the agency on secondary capital.
WASHINGTON—CUNA is considering uniting the trade association and the state leagues under the existing banner of “America's Credit Unions.”
WASHINGTON—Senator Bernie Sanders (I-VT) and Congressman Brad Sherman (D-CA) plan to reintroduce in the House and Senate new legislation to break up financial institutions that are “too big to fail.”
LOS ANGELES—The city of Los Angeles has filed a civil lawsuit against Wells Fargo that alleges the $287-billion bank, in a push for growth, often elevated its profits over the legal rights of its customers.
BOSTON—The rise of mobile banking is leading to the rise of the mobile consumer—one who is likely to switch a PFI relationship for better e-services.
TUSCALOOSA, Ala.—A convicted businessman currently serving time for loans that involve Alabama One Credit Union is claiming that his signature on mortgage documents at the credit union has been forged.
SOUTHFIELD, Mich.—The Michigan CU League has approved a new dues structure that seeks to streamline the dues formula and incent every CU to make a minimum contribution to its CU Link cooperative ad campaign.
WASHINGTON—Personal income increased $6.2 billion, or less than 0.1%, and disposable personal income (DPI) increased $1.6 billion, also less than 0.1%, in March, according to the Bureau of Economic Analysis.
MIAMI—Consumer complaints against Florida’s financial institutions have come down since the peak of the recession, banks still get most of the complaints in the Sunshine State, and mortgage products are getting the most gripes.