SAN FRANCISCO—A California federal judge has granted final approval to a $110-million shareholder derivative settlement involving Wells Fargo, resolving claims that the bank’s directors and executives failed to properly oversee discriminatory mortgage lending practices and allegedly conducted “fake” job interviews with diverse candidates to satisfy internal hiring policies, Bloomberg Law reported.
LAS VEGAS—As consumers continue searching for higher returns on savings amid persistent inflation and elevated household costs, Create Credit Union here is aggressively competing for deposits with a checking account offering a 8.30% APY on balances up to $10,000.
WASHINGTON—Two executive orders signed by President Donald Trump are setting up what some fraud and compliance experts see as a regulatory contradiction for financial institutions: tougher Know Your Customer and due diligence expectations for banks at the same time fintech and crypto firms could gain easier access to the financial system with fewer barriers, according to BankInfoSecurity.
HOUSTON—The $206-million MemberSource Credit Union here has disclosed a data breach affecting 22,308 Texas residents after unauthorized access to its network exposed unencrypted personal information, according to state breach filings and notices.
SAN DIEGO—The legal dispute between San Diego County Credit Union and California Coast Credit Union has been delayed, with the next management conference now pushed from May 22 to June 26, according to information provided to CUToday.info by California Coast.
WASHINGTON—U.S. consumer sentiment fell to another record low in May as Americans grew increasingly worried about inflation, rising gasoline prices and the broader economic outlook, according to the latest University of Michigan survey released Friday.
WASHINGTON--America's Credit Unions is urging CUs to weigh in on two Treasury proposals implementing the GENIUS Act, with comments due in the coming weeks.
WASHINGTON--Routing routine consumer disputes through the NCUA’s Consumer Assistance Center (CAC) is an emerging trend that warrants corrective action, America’s Credit Unions wrote to Chairman Kyle Hauptman.
NEW YORK—A 28-year-old credit union member walks into a branch with a simple question: Can she buy bitcoin? Minutes later, she’s in her car completing the transaction on a crypto app—because her credit union couldn’t help.
KINGSBURY, N.Y.—A vehicle crashed through the front entrance of a Hudson River Credit Union branch, prompting a law enforcement response and temporary closure of the office, according to a report by WNYT.
