The Cashless Society is Coming—But This Time for Different Reason 07/02/2019 07:52 pm MOSCOW—The CEO of one of the largest payment processing companies predicts cryptocurrencies will replace cash, and eventually financial institutions.O of one of the largest payment processing companies predicts cryptocurrencies will replace cash, and eventually financial institutions.
Equifax Partnering With FinTech Sandbox 07/02/2019 07:52 pm ATLANTA—Equifax said it is partnering with FinTech Sandbox to help drive global FinTech innovation.
You Are Now Free to Move About and Name a New CEO 07/09/2019 07:55 pm DALLAS–Southwest Airlines FCU has named a new CEO to succeed the retired Charles (Chuck) Rutan. The credit union has selected Cynde Jones to lead the organization.
NAFCU Offers Improvements on Information Sharing to FinCEN 07/09/2019 07:55 pm ARLINGTON, Va.—The Financial Crimes Enforcement Network has been provided with recommendations NAFCU said are intended to strengthen the information shared between government agencies, law enforcement and financial institutions through FinCEN’s 314(a) program—and to better combat money laundering and terrorist financing.
Wescom Launches Small-Dollar, Short-Term Loan Product 07/02/2019 07:52 pm PASADENA, Calif.–Wescom Credit Union has launched a new “Quick Assist Loan” program for members in need of short-term, small-dollar loans with no credit checks. The credit union said the product is aimed at being an alternative to high-rate payday loans.
The Common Wealth of CUs in the Commonwealth Surpasses $50 Billion 07/09/2019 07:56 pm HARRISBURG, Penn.– The total assets of credit unions in Pennsylvania have surpassed the $50 billion threshold for the first time.
Fraud Attempts Using Rogue Mobile Apps Jump 300% 07/02/2019 07:54 pm BEDFORD, Mass.—Fraud attacks involving rogue mobile applications jumped nearly 300% in the first quarter from the preceding quarter, and fraudulent card-not-present transactions rose 17%, a new report shows.
20 More CUs Become Program Partners With GrooveCar Direct 07/09/2019 07:56 pm HAUPPAUGE, N.Y.—Twenty new credit unions became program partners with GrooveCar Direct in the second quarter of 2019.
Debt Relief Firm Relieved of $25 Million As Part of CFPB Settlement 07/09/2019 09:26 pm WASHINGTON — The Consumer Financial Protection Bureau announced it has settled its lawsuit against Freedom Debt Relief, LLC, the nation’s largest debt-settlement services provider.
…Consumer Groups Press Agency to Support Reform of ‘Abusive Practices’ 07/02/2019 07:54 pm WASHINGTON– A coalition of consumer groups has sent a letter to the CFPB urging it not to weaken the Federal Reserve’s 2009 overdraft “opt-in” rule.
