WASHINGTON — In a comment letter filed today with the Consumer Financial Protection Bureau, the American Bankers Association and all 52 state bankers associations outlined the reasons why they believe the market for overdraft services is already transparent and competitive, “directly challenging the basic premise behind the Bureau’s misguided proposal to impose additional regulation on overdraft protection services.”
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ALEXANDRIA, Va.—In the wake of a law in California that requires disclosures of data on income from overdrafts and NSFs at state-chartered CUs, America’s Credit Unions said it is “actively engaging” with NCUA on its call report changes that would require similar disclosures from certain credit unions.
ROME, N.Y.–With 12 of its branches to be in the “path of totality” during April 8’s solar eclipse, AmeriCU Credit Union has announced a number of related social media giveaways, financial center celebrations, loan discount offers, and new “totality” awesome checking accounts.
WASHINGTON—The Beneficial Ownership Information (BOI) database established under the Corporate Transparency Act (CTA) should provide significant and important relief for credit unions from the Financial Crimes Enforcement Network’s (FinCEN) customer due diligence (CDD) requirements, America’s Credit Unions wrote.
WASHINGTON–The most frequently cited consumer complaints directed against banks during 2023 were violations of truth in lending and flood insurance regulations, according to a new report from the FDIC.
SILICON VALLEY, Calif.–Two more credit unions have announced sponsorship tie-ins with professional sports franchises.
LANSING, Mich. — The Michigan Credit Union League (MCUL) said it has entered into a partnership with WithClutch, a fintech platform that is designed to help consumers to refinance high-interest consumer loans through an easy and digital process.
MADISON, Wis.—The World Council of Credit Unions (WOCCU) is reminding the deadline to early bird registration for its 2024 World Credit Union Conference is approaching.
EATONVILLE, Fla.–One of the few new credit unions to receive a federal charter in recent years is reporting it has now grown to more than $3 million in assets and it is now setting some goals for where it wants to be by its fifth anniversary.
NEW YORK–By 2030, U.S. industries will see $291-billion in revenue driven by asset tokenization, according to a new analysis.