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WASHINGTON–The House has passed two pieces of legislation that have the backing of credit unions.

WASHINGTON–The House Financial Services Committee (HSFC) has passed new data breach legislation.

WASHINGTON–As opposed to the official credit union position, the Consumer Federation of America is blasting what it is calling a “misnamed” piece of legislation, the Protecting Consumers' Access to Credit Act of 2017 (HR 3299), which passed the House and which specifies that notwithstanding any state law to the contrary, a loan which was valid when made, remains valid if transferred to a third party and may be enforced by that third party.

ALEXANDRIA, Va.–In what was referred to as a “historic day” that “no one thought would ever come,” the NCUA board has voted in favor of making an equity distribution to credit unions from the NCUSIF of $735.7 million to be paid in the third quarter of this year.

CINCINNATI—Lease credit approval rates fell as the New Year kicked off.  Swapalease.com reported that car lease credit applicants registered a 57.8% approval rate in January, down from 62.0% in December. January’s rate was higher than the 50% rate from a year ago.

CINCINNATI—Consumers may be in for a shock this year when find out their lease payments are higher than in years past.