Advanced search

JACKSONVILLE, Fla.–VyStar Credit Union has become the latest to be hit with a class action lawsuit alleging violations related to overdraft fees. The suit, filed by four different law firms involved in similar litigation against other credit unions, alleges VyStar routinely assesses multiple non-sufficient-funds fees on the same item.

MEMPHIS–Ownership in the data processing CUSO Share One has changed, shifting from an employee and client ownership structure to a majority client-based credit union CUSO.

ALEXANDRIA, Va.—NAFCU is asking NCUA to provide “periodic updates and opportunities for credit union feedback and engagement," on the agency's implementation of ongoing examination modernization initiatives.

MENLO PARK, Calif.—Facebook blockchain lead David Marcus told U.S. lawmakers that the social media giant plagued by privacy scandals won’t have access to personal financial information with its new cryptocurrency.

WASHINGTON–President Trump said he is no fan of cryptocurrenices, including Facebook’s newly announced Libra. The president made the statements as Congress was holding hearings around cryptocurrencies, while the White House also hosted a “social media summit” made up primarily of conservative voices. During the summit, Trump said, “We have terrible bias, we have censorship like nobody has any understanding or nobody can believe.”

ALEXANDRIA, Va.—When the NCUA board meets on Thursday it is scheduled to issue two final rules: one on real estate appraisals for non-residential, rural loans, and another on fidelity bonds.

MADISON, Wis.—Both loan and membership growth at credit unions were down in May compared to one year ago, according to CUNA Mutual Groups latest Trends Report.

WASHINGTON–With the National Defense Authorization Act (NDAA) now headed to a conference committee to iron out differences between the House and Senate versions, credit unions will be working behind the scenes this week to ensure language giving banks the same access as credit unions to military bases isn’t part of any compromise.

CHICAGO–The Appraisal Institute has “vigorously condemned” the NCUA board’s vote to increase the threshold at which a real estate appraisal is needed.

RIDGECREST, Calif.– In the two weeks since two large earthquakes hit this region of California, area credit unions are reporting their employees have joined with other organizations in providing food, supplies and other support.