WASHINGTON — The Consumer Financial Protection Bureau (CFPB) has ordered online lender Enova International Inc. to pay a $15 million penalty for what it said is “widespread illegal conduct,” including withdrawing funds from customers’ bank accounts without their permission, making deceptive statements about loans, and cancelling loan extensions.
Fresh Today
ALEXANDRIA, Va.–The number of credit unions that have seen their CAMELS codes slip in Q3, primarily to CAMELS code 3—and that includes CUs of more than a billion dollars in assets--was apparent in an update provided to the NCUA board on the state of the National Credit Union Share Insurance Fund.
ALEXANDRIA, Va.–The NCUA board has voted 3—0 in favor of updating its regulations around charitable donations so that credit unions can now support veterans organizations.
SAN ANTONIO–The loss of sponsors, legacy core systems, a letter from an acquiring CU and a CU paying out more than $1 million to five top executives can be found in this final part of a three-part series in CUToday.info featuring the latest credit unions seeking to merge, their reasons for doing so and what kinds of payouts are being made (if any) to members and management.
WASHINGTON–During a Senate hearing here, NCUA found itself pulled into debates around international geopolitics as well as the scandal surrounding the alleged toxic and misogynistic work culture at the FDIC.
WASHINGTON–In the wake of a report that alleges an abusive “sexualized boys club" culture at the FDIC, the agency’s vice chairman has issued a statement saying what the report detailed has “no place” at the federal bank regulator.
WASHINGTON–Retailers may not be pleased over the latest national sales figures, but the Federal Reserve will be, according to one credit union economist.
With The Big Questions Still to be Answered, NAFCU, CUNA Chairs Release Statement on Merger Progress
WASHINGTON—The board created to oversee the merger of CUNA and NAFCU has issued a statement encouraging credit unions to “embrace the industry’s cooperative spirit” as the new organization is set to begin in 2024.
WASHINGTON—NAFCU and CUNA joined with several other trade associations to voice opposition to a petition made to the CFPB that would require the Bureau to pursue a rulemaking to ban pre-dispute arbitration provisions in contracts for consumer financial services.
SAN DIEGO–Mission Federal Credit Union has named a new president and CEO to succeed the retiring Debra Schwartz.