WASHINGTON–The Federal Trade Commission has taken action against personal finance app provider Brigit, alleging that its promises of “instant” cash advances of up to $250 for people living paycheck-to-paycheck were deceptive, and that the company locked consumers into a $9.99 monthly membership they couldn’t cancel.
Fresh Today
DALLAS—With the holidays approaching, the credit card rewards war is again heating up.
WASHINGTON—CUNA’s latest Economic Update points to growing issues with delinquencies.
TUSCALOOSA, Ala. — Alabama ONE Credit Union said it has received regulatory approval to acquire First Bank in Wadley, Ala., which is approximately 150 miles to the east of the CU’s headquarters.
WASHINGTON—Following its oral testimony before the agency’s recent budget briefing, CUNA has filed written comments with NCUA on the agency’s proposed 2024-25 budget, noting “significant concerns” with the proposed overall increase and with increases in examination staff and examination time dedicated to consumer compliance issues.
WASHINGTON — In the wake of reports it has an ingrained “toxic culture” and is a “sexualized boys club,” the Federal Deposit Insurance Corporation (FDIC) said it has established a special committee of the board to oversee an independent third-party review of the agency’s workplace culture.
WASHINGTON—The House Judiciary Committee and its Weaponization Select Subcommittee have issued a subpoena to Bank of America and its CEO, Brian Moynihan, regarding what it has alleged is the unauthorized data sharing practices between the bank and federal law enforcement agencies, according to a new report.
WASHINGTON–While Federal Reserve officials indicated they remain open to the possibility of again raising rates, minutes released from the Fed’s October meeting show they are more likely to keep rates steady--and one credit union economist sees potential for a rate cut in 2024.
SEATTLE––The CEO of Binance, which is the world’s largest cryptocurrency exchange, has exited the job after pleading guilty to violating anti-money-laundering requirements, while the company has agreed to pay a $4.3-billion as part of a deal that might preserve the company’s ability to continue operating.
PLANO, Texas–Giving thanks this year is going to cost about a third more than in 2022.