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WASHINGTON, D.C. — The Consumer Financial Protection Bureau (CFPB) has issued a new circular affirming that companies offering “negative option” subscription services must comply with federal consumer financial protection law.

SPARKS, Md.–First Financial Credit Union reported its members received more than $2.3-million in rebates as part of its quarterly rewards program during 2022.

WOODLAND, Calif.–Yolo Federal Credit Union has expanded its field of membership to El Dorado, Placer, Sacramento, and Yolo counties in California.

EAST HARTFORD, Conn.–Two Connecticut credit unions said they are seeking to merge.

NEW YORK—After years of warily watching fintechs erode member relationships in mainstream financial offerings such as credit products, savings accounts and even mortgages, there is now a new target for the tech upstarts, according to a new report.

BISMARCK, N.D.– A bill has been introduced into the 68^th North Dakota State Legislative Assembly that aims to provide relief to state-chartered CUs from one of the “strictest field of membership statutes in the nation.” The legislation, SB 2266, is being supported by the Dakota Credit Union Association.

NEW YORK– Glia, a provider of digital member service options, said it has launched a CUSO.

CHELSEA, Mass.–Metro Credit Union is now giving employees the option of a four-day work week.

WASHINGTON—Newly appointed House Financial Services Committee (HFSC) Chairman Rep. Patrick McHenry (R-NC) said he intends to focus heavily on economic “innovation, opportunity, and oversight” under his leadership on the committee.

WASHINGTON—Sens. Mark Warner (D-VA) and Mike Crapo (R-ID) have written to Treasury Secretary Janet Yellen with concerns the Community Development Financial Institutions (CDFI) Fund is not considering stakeholder feedback as they update the fund’s application process.