WASHINGTON—With Russell Vought shutting down CFPB operations within 36 hours after being named acting director of the Bureau, what lies ahead for credit unions?
THE feature
WASHINGTON—It’s been a busy week in Washington, with several new appointments—including an appointment to replace an appointment.
PETERBOROUGH, N.H.—If a 10% cap on credit card interest rates were mandated, issuers would have to eliminate rewards and brace for the fact their card programs would become “near-trivial” as profit drivers, one payments analyst is saying.
SCOTTSDALE, Ariz.—Credit unions cannot afford to ignore cryptocurrency’s momentum, which has been spurred by the Trump Administration, one analyst is saying.
DUBLIN, Calif.—The California Department of Financial Protection and Innovation (DFPI) has issued a consent order against $9.5-billlion Patelco Credit Union for cybersecurity violations, the DFPI announced.
WASHINGTON—Is the $5 cap on overdraft fees dead? Acting CFPB Director Scott Bessent has suspended a wide range of activities at the agency.
WASHINGTON—Rohit Chopra has stepped down as director of the CFPB.
WINSTON-SALEM, N.C.—The $5.3-billion Truliant FCU here and $5.4-billion Coastal Credit Union have partnered to create the Credit Union Auto Marketplace, a preowned auto-buying center for credit union members.
WASHINGTON—The White House Office of Management and Budget (OMB) rescinded a memo Wednesday that had ordered a temporary pause on federal grants.
WASHINGTON—The CFPB’s recent proposal to ban contract clauses that strip away “fundamental freedoms” could mean more red tape for credit unions, one attorney contends.