WASHINGTON—While credit unions are strongly opposed to the CFPB’s proposed rules capping credit card late fees, the National Consumer Law Center and eight other advocacy groups have submitted comments in support of the plan, saying it will save consumers “billions of dollars each year in late fees and put that hard-earned money back in their pockets.
Fresh Today
WASHINGTON–The Consumer Financial Protection Bureau (CFPB) has published a report on what it called “high-cost specialty” financial products, such as medical credit cards, alleging that while they are sold by what are often fintechs to patients as a way to alleviate growing medical costs, they actually only add to the burden.
ARLINGTON, Va.—Total vehicle sales increased 1.2 million annualized units in April – from 15.3 million in March to 16.5 million – and were up 15.4% from the previous year.
EXTON, Pa.–Jeff March, president and CEO of Citadel Credit Union, has announced he will retire by year end after a successor is selected.
ATLANTA– Based on a survey of lenders, SMB lending fraud has increased significantly during the past 12 months, with many smaller banks, credit unions and fintechs expecting fraud levels to worsen over the next year, according to LexisNexis Risk Solutions.
SNELLVILLE, Ga.–The African-American Credit Union Coalition (AACUC) has named the inaugural Maurice R. Smith DEI Leadership Award recipients, as well as its new Hall of Fame honorees.
TUCSON, Ariz.– Credit Union West is staging a “Spend to Win $10K” promotion to celebrate Member Appreciation Month May.
MEMPHIS, Tenn.– During Inclusiv’s annual conference here, the Community Builders of Color Coalition, led by the African American Alliance of CDFI CEOs, announced the launch of the “Justice Climate Fund,” a new initiative the organization said will maximize the dual priorities of the United States Environmental Protection Agency’s (EPA) Greenhouse Gas Reduction Fund.
IRVINE, Calif.– Origence, a provider of lending technology solutions, has announced the results of its board elections.
MADISON, Wis.— A new white paper, “IT Risk Assessment: Building a Road Map,” designed to provide CUs with more tools to address growing IT risk assessment concerns, has been published by the CUNA Technology Council.