WASHINGTON—A new study reveals that auto title loans are plagued by the same issues found in the payday loan market—unnecessarily high prices and unaffordable payments that lead to extended indebtedness.
Fresh Today
SEATAC, Wash.—After losing money for four of the last five years, the 54-year-old Port of Seattle Federal Credit Union plans to merge into the $1.2-billion Sound Credit Union. The deal still has to be approved by state and federal regulators as well as credit union members.
WASHINGTON—Senate Minority Leader Harry Reid, a long-time credit union supporter, announced Friday he will not seek re-election to a sixth term.
ALEXANDRIA,Va.—The deadline for comments on NCUA’s revised risk-based capital proposal is now 30 days away.
ONTARIO, Calif.—Another credit union lawsuit against Home Depot for the costs of the 2014 data breach may be moving forward.
WASHINGTON—With the April 27 deadline for comments on the second risk-based capital proposal approaching, CUNA is providing new resources to encourage credit unions to weigh in.
WASHINGTON—The Consumer Financial Protection Bureau is considering proposing rules that would end what it is calling “payday debt traps” by requiring lenders to take steps to make sure consumers can repay their loans.
WASHINGTON—NAFCU and CUNA are carefully evaluating the CFPB’s proposed guidelines on payday lending to make sure the new rules do not impact CUs’ ability to lend to members or add to regulatory burden.
MOORE, Okla.—The Cornerstone CU Foundation is offering to help any credit unions or their employees who were affected by the tornado that hit here on Wednesday night.
ALEXANDRIA, Va.—NAFCU President and CEO Dan Berger applauded NCUA Chairman Debbie Matz’s response to the trade association’s request that NCUA consider good faith efforts by credit unions to comply with the CFPB’s new integrated mortgage disclosure forms.